Estée Lauder (EL) finally recovered to pre-pandemic valuations and set a new 52-week high to end August, but as the market gains more turbulence, the 'lipstick index' doesn't look all too optimistic through the end of October. While Estée Lauder should find strength through November and the holiday season in e-commerce, it could face some near-term weakness against the market. This article will be followed by a secondary bull case for holiday strengths when the time presents a much more attractive buying opportunity.

Although the past is never truly indicative of future performance, we can still point out some similarities over the years during turbulent market conditions. September already saw the market start off on a rocky note, with the S&P 500 falling over 4% and the NASDAQ over 6% - volatility is still high as the market is fresh off new highs, and other future selloffs could be in store for September and October.

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