NASDAQ and SP 500: Entering the Troublesome Half of September.
As we step into the latter part of September notoriously known to be unfavorable for stocks, we're keenly tracking the NASDAQ and SP 500. Last Friday saw options expire that inevitably led to a slide, confirming an ABC correction and setting our sights on new lows in this corrective phase. Targets to watch are the gap areas at approximately 14528 for NASDAQ and 4300 for the SP 500. Neither has reached the 38.2 fib level yet, making these our initial target zones for both charts. This situation could persist until the beginning of October.
As we step into the latter part of September notoriously known to be unfavorable for stocks, we're keenly tracking the NASDAQ and SP 500. Last Friday saw options expire that inevitably led to a slide, confirming an ABC correction and setting our sights on new lows in this corrective phase. Targets to watch are the gap areas at approximately 14528 for NASDAQ and 4300 for the SP 500. Neither has reached the 38.2 fib level yet, making these our initial target zones for both charts. This situation could persist until the beginning of October.