Despite a possible rally in October after Oct 17/22 debt resolution, it is better to wait for 5-8days after the Fed meeting Oct. 30.  Since June, the top is put in at the Fed meeting and there’s a sell off afterwards.

Nov. 4-7 : If a rally  is already underway past the 165 level, wait for next year to play risk/off trade.  If the -4.5% / rebound condition exists, play SPY rebound to Dec 18 ‘Christmas Rally’. If opportunity is missed in early Nov, there’s always the risk/off trade next year.

The first week of July and the first week of September were still not too late to buy into rally!