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Well, the ups and downs continue. We finish out a strong October only to be greeted by a slide into November.

Seasonally, this is a bit of a surprise. But let’s be real. Everything is a surprise right now. Whether it’s election rhetoric, war, weather, or some yet unknown event, it seems like ‘black swan’ is code for ‘any market day that ends in y.’

Trying to game this market is tricky. There is a ton of pessimism out there. Fortunately, the markets aren’t blind. They see the same things you’re seeing. The question is, how much is already priced in to expectations?

Analysts toss around numbers all over the board suggesting things are going to recover and go higher, while others suggest we’ve only just begun to see things drop.

Frankly, trying to look too far into the future is pretty murky right now. How about we focus on this next election and see where the chips fall by the end of the week. Perhaps we can strip some variables out of the mix.

Looking at the charts, the trend is slightly negative, but we’re also near the 3700-support-level for the SPX.  If it holds, we could be in for a Q4 rally back up towars the 4000+ levels.  If not, we’ll be back again next week to discuss.

Have a great week. If you’ve got questions, toss ’em in the comments.

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