Key Takeaways
- • Deutsche Bank's Jim Reid told clients that October 27 has historically marked the bottom of a typical year's final autumn dip.
- • The S&P 500 rose 0.6% to 7,722.60 on October 27, led by a 3.6% jump in the SOX semiconductor index.
- • Reid's data going back to 1928 show the S&P 500 has historically been higher over the three months that followed, according to the note.
Summary
Deutsche Bank's Jim Reid told clients that October 27 is historically when a typical year's final autumn dip bottoms out. The S&P 500 rose 0.6% to 7,722.60 on the day, with gains led by a 3.6% jump in the SOX semiconductor index.
Reid's data, which he reportedly traces back to 1928, show the S&P 500 was higher over the three months that followed the date. The source text is truncated at that point, so the full figures are not available. The seasonal observation positions late October as a potential turning point for the autumn decline.
The observation is a seasonal pattern rather than a formal forecast. The source does not provide further detail on the market's subsequent path or on Reid's broader positioning.
Reid's data, which he reportedly traces back to 1928, show the S&P 500 was higher over the three months that followed the date. The source text is truncated at that point, so the full figures are not available. The seasonal observation positions late October as a potential turning point for the autumn decline.
The observation is a seasonal pattern rather than a formal forecast. The source does not provide further detail on the market's subsequent path or on Reid's broader positioning.
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