Entering September
While September has historically been the weakest month of the year, September is heavily influenced by the underlying market trend. When underlying trends are strong, September has tended to post decent performance, but when markets enter the fall with deteriorating momentum, September has been a problem.
In this week’s update, we explore the underlying market trends and what the combination of those trends and Federal interest rate policy may mean for the market over the coming month.
Key Takeaways
- Market breadth is expanding under the surface, which tends to be a symptom of market health
- Momentum at the top of the market appears to be fading in favor of the rest of the market
- Rate cuts tend to benefit companies that need access to capital vs. those that don’t
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