Dow futures for today are hovering near flat levels after an initial surge. Selling pressure in financial shares is offsetting gains in defensive sectors, highlighting a rotational dynamic in the market. In sharp contrast, retail investors embraced the downturn as a chance to “buy the dip.” For the first time in four weeks, this cohort became net buyers, purchasing a total of $200 million in equities. While stocks have seen three consecutive days of losses amid rising concerns about elevated price levels and the sustainability of the artificial intelligence trade, Hirsch doesn't think that the market will face "Octoberphobia" – a term used to describe the big market declines that have taken place in the month, like the crashes of 1929 and 1987. That's even taking into the fact that fresh all-time highs in September have historically been followed by moderately weaker performance in October. Dow futures for today are slightly positive, with traders awaiting U.S. jobless claims data. A weaker-than-expected number could reinforce the Fed’s dovish tilt, potentially adding fuel to the current rally.