Group 1 - The November-April period is typically the strongest for stocks, with SPDR S&P 500 ETF (SPY) averaging a return of 3.09% in November, the best monthly performance of the year [1] - In contrast, SPY had a weak November performance this year, closing up only 0.19%, marking its weakest November since 2021 [2] - The QQQ Invesco ETF, heavily weighted towards mega-cap tech stocks, fell 1.56% in November, its first negative November since 2018 and the worst since 2011 [2] Group 2 - The market is anticipating a Federal Reserve rate cut in December, with concerns about inflation, job market stability, and a potential systemic AI bubble affecting investor sentiment [4] - Uncertainty surrounding the upcoming 2026 midterm elections could further impact market performance, as historical data shows equities underperforming in the year leading up to elections [5][6] - Markets generally exhibit a pattern of underperformance before elections, followed by significant outperformance afterward, highlighting the aversion to uncertainty among investors [6]