🏆 Today's Chart of the Day was shared by @Optuma.
- November has historically been the best month for the S&P 500, yet the index is on pace for its first monthly loss since April, down -2.5% month-to-date as of Monday's close.
- As Optuma notes, this has been the weakest start to November since 2015. Tech has led the decline, falling -5.7% month-to-date for its worst November start since 2008.
- When seasonality “fails,” it usually means larger, more dominant forces are at play, and those forces could continue to pressure the index once seasonal tailwinds become headwinds next year.
The Takeaway: November has historically been the best month for the S&P 500, but the index is off to its worst start in a decade, down -2.5% so far.
