Good morning all,

After two solid days of Jerome Powell-induced selling, stocks are up slightly this morning. Even though the Fed left rates unchanged, Powell came across as a bit hawkish in his comments, and that was enough for sellers to get active.

It's not a complete breakdown though, and we are getting closer to some good opportunities. The seasonally weak tendencies are following history very well. This sequence sets up the potential for a very strong October rally that could continue through year-end.

I know some of you were disappointed not to get a new Epic Trade idea this week, but we most likely avoided a loss, which is an important part of building your P&L.

$QQQ has been my focus for a quick tactical trade. I will continue to watch for moves lower to add size.

We're also keeping a close watch on $AAPL and $NVDA. They will continue to be drivers of the market. What they do, the market will follow.

$TLT is probably my favorite idea looking out for the next few weeks.
But new lows first wouldn't surprise me.

This bounce is providing some relief. But we'll need to see if has staying power. There's an old Wall Street saying, "Markets don't bottom on a Friday."

My hunch is that the better buying opportunity will be early next week. We shall see.

Yesterday afternoon I traveled to Las Vegas where today I will be speaking at the Market Minds Summit. You know it's hot in Texas when you land in Vegas and think, "Ah....this weather is refreshing."

Have a great weekend,

-DP