October is opening on a predatory note.

Apple (AAPL) got hit hard and fast this morning, and traders are still pounding on the semiconductors, including Nvidia (NVDA).

And Micron (MU) has almost filled its entire earnings gap.

The first day of a new quarter can sometimes set the tone, so I'm keeping a close eye on the price action.

There are plenty of reasons for worry - the election, earnings season, geopolitics, etc.

So we might be seeing some profit taking after a big run YTD for the market.

The key here is SPY $569.

If sellers can keep us below, then the chance of real trouble goes up.

Thankfully, we did a lot of trimming into strength.

And in my own account, I cleaned up a lot of loose positions today so I can be ready to jump on new opportunities.

Be careful out there.

-Scott