Chart of the Day - Tuesday, October 1, 2024

🏆 Today's Chart of the Day was shared by Scott Brown (@scottcharts).
 

• Looking at all years since 1950, September has historically been the worst month for the S&P 500. However, the Bulls prevailed this year, booking a solid monthly gain of +2.0%. 
   
• Scott points out that October seasonality is a bit more nuanced. In all years since 1950, October has historically been strong, with an average gain of +0.95%. On the other hand, it has been the worst month in election years, with an average loss of -0.85%. 
   
• The 2008 Financial Crisis significantly skews the Election-year average. Excluding that single data point, the average election year improves from -0.85% to +0.10%. 
   

Takeaway: October seasonality is like a choose-your-own-adventure novel. It's usually a decent month, but it has been more challenging in election years like 2024.