Tea, I think your going to be right. I went over to Big Charts to see what the SPX looked like for off presidential election years, and a low for the year or a correction from a higher level happened in the October area 6 of those 9 years. (1970,74,78,80,etc....)
And we haven't had a 10% correction in about 836 days (second longest period since 1953).
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