The tweet was deleted by the author.
But we saved everything 🙂.
The S&P 500 has seen a significant rise of 13.7% year-to-date as it enters the fourth quarter of the year.
This marks a strong performance similar to last year, indicating continued market resilience.
However, historical patterns show that October tends to average down, with the market gaining only half of the time. Despite this, the fourth quarter has historically finished higher in 14 out of the past 15 occasions.
While the current rally underscores investor confidence, questions persist about the durability of such gains in light of recurring concerns surrounding asset bubbles—a debate previously explored in detail in Ryan Detrick’s assessment of bubble narratives. Additionally, as portfolio allocations remain in sharp focus, the low enthusiasm for alternative assets such as gold, highlighted in the analysis of the significant proportion of managers who avoid gold, continues to influence market strategies as the year draws to a close.