🏆 Today's Chart of the Day was shared by Ryan Detrick (@RyanDetrick).
- The S&P 500 kicked off the week with another gap-and-go to fresh all-time highs today. Ryan points out that the average year since 1950 has historically bottomed today (October 27th) before rallying into year-end.
- The final two months of the year have never been lower when $SPX was positive in the six months leading up to them, as it is now. Ryan also noted that tomorrow has historically been the best day of the year.
- Stocks powered higher through the 'weakest' part of the seasonal cycle this year, demonstrating a relentless underlying bid and momentum. However, if $SPX falters into year-end, it will be a red flag for next year.
The Takeaway: The S&P 500 is entering its strongest stretch of the year after rallying through its weakest. However, if $SPX stumbles across the finish line, it will be a potential warning sign for next year.
