Another Sept. rally?

nancy7505

Junior member
14 0
I was reading a newletter that showed a chart of the S&P 500 for the last 8 years. In 7 of those years the markets have rallied from the end of August. I am ready to put a trade on here.
Can anyone talk me out of this? Any good reason to believe Sept. will see a pull-back?
 

GrandSupercycle

Active member
156 0
Despite central bank short covering spikes last week, SPX & AUDUSD daily chart significant retracement still expected.
And then prolly a QE3 rally prior to US elections...
@GrandSupercycle
 

Aspen Trading Group

Well-known member
427 1
I was reading a newletter that showed a chart of the S&P 500 for the last 8 years. In 7 of those years the markets have rallied from the end of August. I am ready to put a trade on here.
Can anyone talk me out of this? Any good reason to believe Sept. will see a pull-back?
I will throw my 2 cents into this discussion - only looking out several days/week or two, but we are bullish on the S&P's towards 1480. Despite all the 'known' problems the economy faces, like it or not, the Central Banks are keeping a bid in this market for risk oriented assets.

 

Vicorka

Active member
246 7
We did not have rally in September. the S&P was positive, yet only modest advance was reported by the end of the month. The S&P still looks bullish, yet, personalty, I do not expect any strong advance in October as well. So far, the S&P 500 chart looks positive for me, hover two big volume spikes in the middle of September (after which up-move halted into side-way action with small correction) makes be believe that even if we go up it could be difficult and modest move. Second thing that makes me cautious is increase in volatility. However, for me the volatility is still at low and safe level. However, should I see ATR% moving above 1.2%, I would start looking at the possibility of stronger correction down.

 
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