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A view of the charging Bull with a woman in New York City USA during coronavirus pandemic on April 25, 2020.

John Nacion | NurPhoto | Getty Images

Investors could benefit from a strong seasonal tailwind if they buy stocks this month and stay invested, according to Bank of America technical strategist Stephen Suttmeier.

In a note to clients, Suttmeier pointed out that the best three and six-month periods for the S&P 500 begin in November, making October a prime opportunity for investors to increase their equity exposure.

“Investors and financial media love to commiserate over ‘Sell in May and go away’ but often forget about ‘Buy in October and stay,'” Suttmeier said.