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Introduction
According to Bank of America, the stock market is currently entering its historically worst seasonal period. This time frame, which starts on September 18 and lasts for the last 10 days of September, is known for its negative performance. Stephen Suttmeier, the technical research strategist for Bank of America, stated that during this period, the S & P 500 index tends to be up only 40% of the time, with an average return of -1.11%.
Reasons for Volatility
Goldman Sachs also highlighted the upcoming volatility during this period. This is due to the pressure on company managements to provide updates on their performance for the full year as the third quarter comes to a close. These early warnings often have a negative impact on the market. Additionally, there are other factors affecting investor sentiment, such as the Federal Reserve update, concerns over inflation and a slowing economy, worker stoppages, rising oil prices, and the possibility of a government shutdown.
Market Performance
The S & P 500 has already experienced a decline of approximately 0.6% this week, aligning with historical trends. However, Suttmeier cautioned against considering this period as a buying opportunity. He explained that when the first 10 days of the month have below-average performance, the last 10 days tend to be challenging as well, with the S & P 500 up only 41% of the time and an average return of -1.66%.
Outlook
Despite the potential for a weak period, the Bank of America technical analyst remains bullish overall as long as key support levels are not broken. Suttmeier emphasized that the market benchmark is still significantly above its 200-week moving average, indicating a “secularly bullish” trend. It is crucial to monitor these support levels to assess the market’s future performance.
Source: Michael Bloom, Bank of America
Introduction
According to Bank of America, the stock market is currently entering its historically worst seasonal period. This time frame, which starts on September 18 and lasts for the last 10 days of September, is known for its negative performance. Stephen Suttmeier, the technical research strategist for Bank of America, stated that during this period, the S & P 500 index tends to be up only 40% of the time, with an average return of -1.11%.
Reasons for Volatility
Goldman Sachs also highlighted the upcoming volatility during this period. This is due to the pressure on company managements to provide updates on their performance for the full year as the third quarter comes to a close. These early warnings often have a negative impact on the market. Additionally, there are other factors affecting investor sentiment, such as the Federal Reserve update, concerns over inflation and a slowing economy, worker stoppages, rising oil prices, and the possibility of a government shutdown.
Market Performance
The S & P 500 has already experienced a decline of approximately 0.6% this week, aligning with historical trends. However, Suttmeier cautioned against considering this period as a buying opportunity. He explained that when the first 10 days of the month have below-average performance, the last 10 days tend to be challenging as well, with the S & P 500 up only 41% of the time and an average return of -1.66%.
Outlook
Despite the potential for a weak period, the Bank of America technical analyst remains bullish overall as long as key support levels are not broken. Suttmeier emphasized that the market benchmark is still significantly above its 200-week moving average, indicating a “secularly bullish” trend. It is crucial to monitor these support levels to assess the market’s future performance.
Source: Michael Bloom, Bank of America
Introduction
According to Bank of America, the stock market is currently entering its historically worst seasonal period. This time frame, which starts on September 18 and lasts for the last 10 days of September, is known for its negative performance. Stephen Suttmeier, the technical research strategist for Bank of America, stated that during this period, the S & P 500 index tends to be up only 40% of the time, with an average return of -1.11%.
Reasons for Volatility
Goldman Sachs also highlighted the upcoming volatility during this period. This is due to the pressure on company managements to provide updates on their performance for the full year as the third quarter comes to a close. These early warnings often have a negative impact on the market. Additionally, there are other factors affecting investor sentiment, such as the Federal Reserve update, concerns over inflation and a slowing economy, worker stoppages, rising oil prices, and the possibility of a government shutdown.
Market Performance
The S & P 500 has already experienced a decline of approximately 0.6% this week, aligning with historical trends. However, Suttmeier cautioned against considering this period as a buying opportunity. He explained that when the first 10 days of the month have below-average performance, the last 10 days tend to be challenging as well, with the S & P 500 up only 41% of the time and an average return of -1.66%.
Outlook
Despite the potential for a weak period, the Bank of America technical analyst remains bullish overall as long as key support levels are not broken. Suttmeier emphasized that the market benchmark is still significantly above its 200-week moving average, indicating a “secularly bullish” trend. It is crucial to monitor these support levels to assess the market’s future performance.
Source: Michael Bloom, Bank of America
Introduction
According to Bank of America, the stock market is currently entering its historically worst seasonal period. This time frame, which starts on September 18 and lasts for the last 10 days of September, is known for its negative performance. Stephen Suttmeier, the technical research strategist for Bank of America, stated that during this period, the S & P 500 index tends to be up only 40% of the time, with an average return of -1.11%.
Reasons for Volatility
Goldman Sachs also highlighted the upcoming volatility during this period. This is due to the pressure on company managements to provide updates on their performance for the full year as the third quarter comes to a close. These early warnings often have a negative impact on the market. Additionally, there are other factors affecting investor sentiment, such as the Federal Reserve update, concerns over inflation and a slowing economy, worker stoppages, rising oil prices, and the possibility of a government shutdown.
Market Performance
The S & P 500 has already experienced a decline of approximately 0.6% this week, aligning with historical trends. However, Suttmeier cautioned against considering this period as a buying opportunity. He explained that when the first 10 days of the month have below-average performance, the last 10 days tend to be challenging as well, with the S & P 500 up only 41% of the time and an average return of -1.66%.
Outlook
Despite the potential for a weak period, the Bank of America technical analyst remains bullish overall as long as key support levels are not broken. Suttmeier emphasized that the market benchmark is still significantly above its 200-week moving average, indicating a “secularly bullish” trend. It is crucial to monitor these support levels to assess the market’s future performance.
Source: Michael Bloom, Bank of America
Introduction
According to Bank of America, the stock market is currently entering its historically worst seasonal period. This time frame, which starts on September 18 and lasts for the last 10 days of September, is known for its negative performance. Stephen Suttmeier, the technical research strategist for Bank of America, stated that during this period, the S & P 500 index tends to be up only 40% of the time, with an average return of -1.11%.
Reasons for Volatility
Goldman Sachs also highlighted the upcoming volatility during this period. This is due to the pressure on company managements to provide updates on their performance for the full year as the third quarter comes to a close. These early warnings often have a negative impact on the market. Additionally, there are other factors affecting investor sentiment, such as the Federal Reserve update, concerns over inflation and a slowing economy, worker stoppages, rising oil prices, and the possibility of a government shutdown.
Market Performance
The S & P 500 has already experienced a decline of approximately 0.6% this week, aligning with historical trends. However, Suttmeier cautioned against considering this period as a buying opportunity. He explained that when the first 10 days of the month have below-average performance, the last 10 days tend to be challenging as well, with the S & P 500 up only 41% of the time and an average return of -1.66%.
Outlook
Despite the potential for a weak period, the Bank of America technical analyst remains bullish overall as long as key support levels are not broken. Suttmeier emphasized that the market benchmark is still significantly above its 200-week moving average, indicating a “secularly bullish” trend. It is crucial to monitor these support levels to assess the market’s future performance.
Source: Michael Bloom, Bank of America
Introduction
According to Bank of America, the stock market is currently entering its historically worst seasonal period. This time frame, which starts on September 18 and lasts for the last 10 days of September, is known for its negative performance. Stephen Suttmeier, the technical research strategist for Bank of America, stated that during this period, the S & P 500 index tends to be up only 40% of the time, with an average return of -1.11%.
Reasons for Volatility
Goldman Sachs also highlighted the upcoming volatility during this period. This is due to the pressure on company managements to provide updates on their performance for the full year as the third quarter comes to a close. These early warnings often have a negative impact on the market. Additionally, there are other factors affecting investor sentiment, such as the Federal Reserve update, concerns over inflation and a slowing economy, worker stoppages, rising oil prices, and the possibility of a government shutdown.
Market Performance
The S & P 500 has already experienced a decline of approximately 0.6% this week, aligning with historical trends. However, Suttmeier cautioned against considering this period as a buying opportunity. He explained that when the first 10 days of the month have below-average performance, the last 10 days tend to be challenging as well, with the S & P 500 up only 41% of the time and an average return of -1.66%.
Outlook
Despite the potential for a weak period, the Bank of America technical analyst remains bullish overall as long as key support levels are not broken. Suttmeier emphasized that the market benchmark is still significantly above its 200-week moving average, indicating a “secularly bullish” trend. It is crucial to monitor these support levels to assess the market’s future performance.
Source: Michael Bloom, Bank of America
Introduction
According to Bank of America, the stock market is currently entering its historically worst seasonal period. This time frame, which starts on September 18 and lasts for the last 10 days of September, is known for its negative performance. Stephen Suttmeier, the technical research strategist for Bank of America, stated that during this period, the S & P 500 index tends to be up only 40% of the time, with an average return of -1.11%.
Reasons for Volatility
Goldman Sachs also highlighted the upcoming volatility during this period. This is due to the pressure on company managements to provide updates on their performance for the full year as the third quarter comes to a close. These early warnings often have a negative impact on the market. Additionally, there are other factors affecting investor sentiment, such as the Federal Reserve update, concerns over inflation and a slowing economy, worker stoppages, rising oil prices, and the possibility of a government shutdown.
Market Performance
The S & P 500 has already experienced a decline of approximately 0.6% this week, aligning with historical trends. However, Suttmeier cautioned against considering this period as a buying opportunity. He explained that when the first 10 days of the month have below-average performance, the last 10 days tend to be challenging as well, with the S & P 500 up only 41% of the time and an average return of -1.66%.
Outlook
Despite the potential for a weak period, the Bank of America technical analyst remains bullish overall as long as key support levels are not broken. Suttmeier emphasized that the market benchmark is still significantly above its 200-week moving average, indicating a “secularly bullish” trend. It is crucial to monitor these support levels to assess the market’s future performance.
Source: Michael Bloom, Bank of America
Introduction
According to Bank of America, the stock market is currently entering its historically worst seasonal period. This time frame, which starts on September 18 and lasts for the last 10 days of September, is known for its negative performance. Stephen Suttmeier, the technical research strategist for Bank of America, stated that during this period, the S & P 500 index tends to be up only 40% of the time, with an average return of -1.11%.
Reasons for Volatility
Goldman Sachs also highlighted the upcoming volatility during this period. This is due to the pressure on company managements to provide updates on their performance for the full year as the third quarter comes to a close. These early warnings often have a negative impact on the market. Additionally, there are other factors affecting investor sentiment, such as the Federal Reserve update, concerns over inflation and a slowing economy, worker stoppages, rising oil prices, and the possibility of a government shutdown.
Market Performance
The S & P 500 has already experienced a decline of approximately 0.6% this week, aligning with historical trends. However, Suttmeier cautioned against considering this period as a buying opportunity. He explained that when the first 10 days of the month have below-average performance, the last 10 days tend to be challenging as well, with the S & P 500 up only 41% of the time and an average return of -1.66%.
Outlook
Despite the potential for a weak period, the Bank of America technical analyst remains bullish overall as long as key support levels are not broken. Suttmeier emphasized that the market benchmark is still significantly above its 200-week moving average, indicating a “secularly bullish” trend. It is crucial to monitor these support levels to assess the market’s future performance.
Source: Michael Bloom, Bank of America
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