Chart of the Day - Monday, November 4th, 2019

Today’s Chart of the Day was shared in a research note by Frank Cappelleri of Instinet. It is a seasonality chart from EquityClock.com that compiles 20-years of data to show how the S&P 500 tends to perform throughout the year. In the note, Frank explains: "The S&P 500 adhered to October's historical path as well it could have last month – getting hit hard early on, bottoming and extending the rest of the month. While we can’t expect the market to comply to history so tightly in November, we should at least be aware of the 20-year average." He adds that: "on AVERAGE, we tend to see an early extension of the late October strength, a mid-month slowdown and then a month-end rally.  Given the strong push in October's final three weeks, a pause in the action soon would not be unexpected."