Investors pressed pause in October with it being the first down month for the S&P 500 (SPY) since April. This is very typical cautious behavior coming into a contentious Presidential election.
On Wednesday we cleared the hurdle of the Presidential Election. Next on Thursday we got the next round of accommodation from the Fed with another quarter point cut. Add all this together you can appreciate why stocks have sprinted to new highs just below 6,000.
