The stock market likely hit bottom in October. Here's why.

As the stock market continues to rally in the face of worrying news, it is appearing more likely that the lows of the current bear market are in.that the stock market typically finds its bottom in the month of October.saw its cycle low of 3,491 on October 12, as investors worried about elevated inflation and aggressive interest rate hikes from the Federal Reserve. And that bottom in mid-October makes complete sense, according to Cerminaro.

Also boding well for the idea that the market has already bottomed and is likely to push higher is the fact that stocks has seen back-to-back quarterly gains, according to Fundstrat.said in a Friday note. But just because the stock market may have hit its cycle low, that doesn't mean new highs are right around the corner.

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