SPX, RSP, RSPH and Gold/Bitcoin Ratio in Focus

Note: There will be no video today as I will be travelling. Thank you for your understanding.

$SPX has now pushed back to new all-time high territory this week, which sets up for a push up to 6749 in the short run, and potentially near 6800 into mid-October before some consolidation starts to get underway. This past week's winners have been concentrated in Healthcare (Life Sciences, Biotechnology, and Pharmaceutical names), along with Semiconductor stocks and Consumer Electronics. While there appears to be resistance heading into mid-October, it's likely not for another 30-80 points higher in SPX, and it looks technically right to trust that this rally has more to go.

S&P 500 Index

Many investors are likely wondering if $SPX might experience a decline if the government shutdown cannot be quickly resolved, and some have pointed to 2018 as an example.  That was a time of wrangling over the funding for Trump's planned border wall, and the shutdown lasted 34 days.  However, what many likely don't remember is that the 2018 shutdown happened on 12/22 or within two days of the market bottom.   SPX had already experienced a seasonal correction of 15% from the September highs before the Shutdown even occurred.  Thus, in 2025, similar to 2018, it is likely right to avoid getting too nervous about how the Shutdown will play out. This daily $SPX chart shows an arrow on the day of 12/22, which occurred right before the market bottomed.

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