August and September are historically the WORST two months for stocks — we all know this! But here's the question: Did we already GET that midterm year volatility EARLY with the July momentum crash?!
Think about it — we saw that UGLY selloff in July, tech got HAMMERED, the momentum names got destroyed. Maybe the market front-ran the usual late summer weakness! If that's the case, we could be setting up for a BETTER than expected August/September.
I'm watching the tape CLOSELY here. If we hold these levels and breadth stays solid, I'm leaning BULLISH into fall. But if we roll over again? Then July was just the appetizer and we're in for more pain.
Stay nimble! This market is FAST. BOOYAH!
Think about it — we saw that UGLY selloff in July, tech got HAMMERED, the momentum names got destroyed. Maybe the market front-ran the usual late summer weakness! If that's the case, we could be setting up for a BETTER than expected August/September.
I'm watching the tape CLOSELY here. If we hold these levels and breadth stays solid, I'm leaning BULLISH into fall. But if we roll over again? Then July was just the appetizer and we're in for more pain.
Stay nimble! This market is FAST. BOOYAH!