{"id":70900,"date":"2024-10-12T23:25:08","date_gmt":"2024-10-13T06:25:08","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=70900"},"modified":"2024-10-12T23:53:18","modified_gmt":"2024-10-13T06:53:18","slug":"all-time-highs-defy-octobers-warnings-the-market-breadth","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2024\/10\/12\/all-time-highs-defy-octobers-warnings-the-market-breadth\/","title":{"rendered":"All-Time Highs Defy October’s Warnings – The Market Breadth"},"content":{"rendered":"\n

Stock Market Commentary<\/strong><\/h2>\n\n\n\n

October is the third of the stock market’s three most dangerous months<\/a>. October, 2024 started with a convergence of bad news tailor-made to fulfill October’s seasonal destiny: intensifying war and geo-political tensions, two intense hurricanes, the looming contentiousness of the U.S. presidential election, another failure from the overbought threshold (bearish according to the AT50 trading rules<\/a>), even a strong September job’s report and what looks like stabilizing inflation<\/a> that both promise to delay the rate cut goodies for the stock market. The market is not even fazed by a strengthening U.S. dollar and a resurgent volatility index (VIX). None of these signs mattered. After a maximum drawdown of 1.2%, the S&P 500 decided to defy all these October warnings and print all-time highs going into earnings season.<\/p>\n\n\n\n