Chart of the Day - Monday, November 1st, 2021

Today’s Chart of the Day was shared by JC Parets (@allstarcharts). The chart shows the performance of some of the largest equity indices over the past six months. As you might know, May-October has historically been the worst six months for stocks. However, stocks were resilient this year with the S&P 500 gaining 10% since May. While some might view this as a failure of seasonality, we view it as a testament to how strong the underlying trend is right now. We're now entering the best six months (November-April). We'll leave you with this quote from the legendary technician, Walter Deemer. "When the market doesn’t do something it should do, it usually means that the underlying trend is unusually powerful.”