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The Market's Next MOVE

October 3, 2026 · 24 min

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The stock market is sitting near a record high, so why doesn't it feel that way? This week, a weak jobs report and a cooler inflation number changed the conversation about the Fed, and something strange is happening underneath the surface of the market. Karl explains what it is, introduces a gauge most investors have never heard of, and looks at whether October's reputation in midterm election years holds up. Is the market flashing a warning, or did the correction already happen while nobody was looking?

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