Risks remain. None of these factors guarantees a positive November at month-end, of course. More volatility is very possible, as risks remain. The biggest risk is the impeachment process, which could rattle markets, but further developments in the trade war could also reverse the trend. Even if we do get these kinds of shocks, however, the stabilization of the fundamentals, both economic and corporate, should provide a cushion to any volatility.

Overall, the prospect for November is less worrisome than where we started October. And that is not a bad place to be.

Brad McMillan is chief investment officer for Commonwealth Financial Network.

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