Dear Reader,
Halloween may be over, but I’m willing to bet that many people still feel this year’s festivities in their bank accounts.
You might be, too.
In fact, Americans shattered last year’s record, spending more than $12 BILLION on candy, costumes, and decorations – the most ever recorded, according to the National Retail Federation (NRF).
At first, I thought people were feeling more generous this time and planning on loading up kids with even more treats…
But when you look at the numbers, it’s not that consumers feel more charitable – it’s because things like candy (up 7.5% from 2022) are more expensive. Even pumpkins cost 5% more than they did last Halloween.
And this could give us a clue about the market this upcoming holiday season.
Remember, we had talked about how everything was setting up nicely for a big run-up in October…
But it dropped to new lows, closing out the third straight month in the negative.
So, although I’m seeing some bullishness in some areas ahead, I’ve got a chart showing the overall trend of the market…
And things don’t exactly look that rosy.
Click on the video below – and let’s talk about it:
Enjoy your weekend!
We’ll talk again soon,
Tom Gentile
America’s #1 Pattern Trader
