October's stock market history:
Bottom Line: We're riding into October on a six-month winning streak amid a wave of record earnings reports and near record stock prices. That's notable in part because August and September are typically the two worst months of the year for stocks. October has a reputation due to a couple of it's notable high-profile days but it's actually been a generally positive month for stocks. Since 1950 October has been the 7th best month of the year for stocks.
October is higher 61% of the time and the average outcome is a gain of about .8%. Not too shabby. Many having been waiting for the wheels to come off of this record-setting post-election rally but that's clearly been a losing proposition to date.
With economic growth at 3.1% last quarter and the potential for tax reform on the horizon – there's some reason for optimism still. Whatever happens or doesn't happen this month shouldn't be based on the hyped stories about the sky falling because October is home to the crashes of 1929, 1987 and 2008. Most importantly never let your money & emotions cross paths. That's when mistakes happen.