Markets Report: the next Big trade (part 2)

The next big trade for the final 2 months of this year?

October is over, and the S&P 500 is up 6 months in a row:

The NASDAQ 100 is up 7 months in a row:

The S&P has traded above its 50 day moving average for 128 trading session:

And the S&P is 13% above its 200 day moving average:

EEM (emerging markets ETF) is up 10 months in a row:

All of these are signs of the market’s incredibly strong momentum. But momentum is just one-half of the whole story.