Our October 2024 stock and ETF watchlist with entry points, sector analysis, and market outlook.
Market Overview
Welcome back to the Wealth Catchers watchlist. The month of September didn't give us its usual sour downturn, but it did provide us with some volatility that gave investors some decent opportunities. The Fed hit us with a surprise 50-point basis point cut when much of the market expected it to be 25 basis points. This led to a rally in equities as we hit new all-time highs in the Dow Jones and S&P 500. We can also expect rates to be cut by another 50 basis points by the end of the year.
Crypto & Digital Assets
Geopolitically, we still have a bunch of rising tensions overseas that we haven't seen fully materialize in the market yet, but it's definitely a pot that's brewing that can carry a ton of risk for equities as more issues arise. Domestically, we also have an east coast port strike that is looming, but it's reported that we have enough inventory on hand to withstand a prolonged strike. I would keep an eye on this as it may affect the price of goods over time. One strike day equals to 3-5 days of recovery. The longer the strike, the tougher it will be to recover. Items that will be affected by this impending strike are food, clothing, auto parts, and holiday toys. Pivoting back to equities, it's safe to say that so far this year the market hasn't been as predictable as it has been in the past. We didn't have the "Sell in May and Go Away," nor did we have a negative return in September. Now we know the Fed played a large role in this rally, but it does make you wonder: will history continue to change as we enter the last quarter of the year? Historically, November and December are great months for the market, known as the "Santa Claus Rally." If history is to repeat itself, we will see more record highs to cap off the year. So far, this has been a great year for investors across many asset classes. Always remember to not chase and let the market come to you
Monthly Performance
At the close of the month, here are how the indices performed:Dow Jones (3.40%)S&P 500 (4.22%)NASDAQ (6.14%)Russell 2000 (3.76%)At the close of the month, the VIX was at 16.73. At the close of the month, the "Fear and Greed" index was at 75, indicating greed in the market.
Closing Note
I appreciate you checking in, and here's your friendly reminder:
“The time to buy is when there's blood in the streets.”
Keep on buying assets; there's always a bull or bear market somewhere. Keep your money working.
Index Performance
| Index | Performance |
|---|---|
| Dow Jones (Sep 2024) | +3.40% |
| S&P 500 (Sep 2024) | +4.22% |
| NASDAQ (Sep 2024) | +6.14% |
| Russell 2000 (Sep 2024) | +3.76% |
Top Sectors
Bottom Sectors
Stock Entry Points
| Ticker | Daily Entry | Weekly Entry |
|---|---|---|
| ABNB | $109–$145 | $82–$139 |
| MSFT | $403–$429 | $286–$352 |
| AAPL | $195–$215 | $149–$181 |
| GOOGL | $154–$171 | $116–$134 |
| WMT | $62–$71 | $52–$57 |
| TSLA | $203–$211 | $205–$237 |
| V | $267–$273 | $224–$249 |
| META | $443–$505 | $286–$341 |
| NVDA | $85–$117 | $34–$60 |
| COST | $735–$852 | $486–$627 |
ETF Entry Points
| Ticker | Daily Entry | Weekly Entry |
|---|---|---|
| VUG | $336–$368 | $267–$298 |
| VGT | $513–$563 | $389–$456 |
| VOO | $464–$503 | $382–$428 |
| SMH | $209–$245 | $134–$174 |
Key Takeaways
- →September 2024: Fed surprised with 50bps cut — markets rallied across the board.
- →Consumer Discretionary +9.08% led as rate cut eased consumer spending concerns.
- →Visa hit with DOJ antitrust lawsuit alleging monopolistic debit card practices.
- →Market breadth improved significantly beyond mega-cap concentration.
"Catch and Secure Your Wealth."™
The Wealth Catchers — a platform dedicated to financial literacy, disciplined investing, and building generational wealth.
All content on The Wealth Catchers is for informational and educational purposes only. It should not be considered financial advice. Please consult a licensed financial advisor before making investment decisions. Our content may contain affiliate links at no cost to you.