Late October Low Lines Up

I’ve been banging my seasonal weakness drum through Q3 warning
of Octoberphobia, volatility, late-October lows and turnarounds. Today’s
negative action aligns with that narrative. Best Six Months start next week. Rising
10-year yields, some notable earnings season misses and turmoil in the Mideast
have conspired with seasonal weakness to knock the market down. But at least we
now have a Speaker of the House.