Typically, investors see October as a tough month for the Stock market with “The Panic of 1907 (October 1907)”, Black Tuesday, Thursday and Monday (October 1929), and Black Monday (October 1987). But according to Investopedia September is actually just as bad with Black Friday (September 1869), Black Wednesday i.e. September 16, 1992, when the pound sterling crashed forcing Britain to withdraw from the European Exchange Rate Mechanism (ERM). September 2001 and 2008 each had single day point declines in the Dow that were bigger than Black Monday October 1987. A 2014 Business insider article stated that “the Dow October average over this timeframe is a modest 0.20%. There have been 64 monthly gains and 49 monthly losses. That’s calculates as a gain about 57% of the time.” The following article by Chris Ciovacco of Ciovacco Capital Management compares market action in October 1987 to October 2018.