$SPY TOP 20

Relatively tame week ahead for the economic calendar compared to this week and this is likely due to the earnings season in full mode now.

Big reports we are watching will be:

$UNH $NFLX $ASML $CITI $IBKR $JNJ $GS $STT $MS $AXP $TSM $SCHW

For the week ahead, several key economic events are scheduled that could influence markets:

• U.S. Retail Sales (September) will be released on Tuesday, October 15. This report will give insights into consumer spending patterns and economic momentum as we approach the end of the year.

• Industrial Production (September) and Capacity Utilization data will also be out on Tuesday, providing a clearer picture of the manufacturing sector’s health.

• Housing Market Data: The NAHB Housing Market Index will be published on Wednesday, October 16, and Housing Starts and Building Permits data will follow on Friday, October 18. These metrics will reflect the state of the U.S. housing market amid fluctuating interest rates.

• Jobless Claims for the week ending October 12 will be released on Thursday, October 17, offering a snapshot of labor market conditions.

Additionally, inflation data from other major economies like the UK, as well as U.S. Federal Reserve speeches, will likely shape financial markets throughout the week

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Earnings season will affect the markets volatility over the next 4 weeks until all of the Mega Caps have reported so we can expect some wild swings, especially if some companies miss big, we can see in the previous earnings season, there was devastating drops after earnings, coupled with the Japanese economic events which fueled the weak season....but the market has recovered from this now and the $QQQ is almost at its ATH level again.

Another bad season may stop the $QQQ from making a new ATH or more importantly, holding above its previous ATH level

The $SPY may also stop at our Wave 5 level too at $589.....but if the season is a success, then it would be hard to see any other scenario playing out other than the Melt Up scenario, where the $SPY can go to $632, which is +10% higher from where we are now.