CNBC Pro

Santoli: October's market rally settled nothing

Andrew Burton | Getty Images

October settled nothing.

That's not to say the 8 percent surge in the Standard & Poor's 500 during the month is meaningless or unimpressive. The rally sent big U.S. stocks back to even for the year and restored the benefit of the doubt to those extolling the resilience of this bull market.

Yet the bounce has achieved little more than to reverse a negative overshoot in stock prices, money flows and investor emotions that developed with the cascading losses that preceded it.


More In Investing

Bank of America downgrades Apple, says weak consumer will cause stock's outperformance to end
CNBC ProBank of America downgrades Apple, says weak consumer will cause stock's outperformance to end
Sell Coinbase as rising competition and macro pressures will hurt the stock, Wells Fargo says
CNBC ProSell Coinbase as rising competition and macro pressures will hurt the stock, Wells Fargo says
Pro Picks: Watch all of Wednesday's big stock calls on CNBC
CNBC ProPro Picks: Watch all of Wednesday's big stock calls on CNBC