Hi everyone,
SPX retested our lower support around 7,630. Now we’re sitting on a cluster of supports in this 7,620- 7,630 range. If we break down those levels we will continue lower towards 7,500 and even 7,400.
Resistance above is around 7,690-7,700 range.
September is the weakest month. It is the only calendar month with a negative long-term average return for the S&P 500, and it posts gains less often than any other month.
Let’s be clear: September usually sucks. But it also provides nice buy-the-dip opportunities. Volatility is still suppressed, so we don’t know how big a dip we might get. We’ll keep paying attention. The ideal is to have a few favorite names ready that you want to add.I’ll come up with a list myself and publish it. Be ready, and when there’s an opportunity, take it.
