S&P 500 yet again kept declining through the day, and Treasuries offered a bleak sight till shortly before the close when long-dated ones turned finally higher – and both tech and value followed suit. Nothing spectacular, Jun lows in S&P 500 were tested (and in the Russell 2000 nearly touched) – 50 points late day reversal doesn‘t signify anything as we haven‘t reached THE low yet in my view. It‘s not about plain stock market seasonality where the very beginning of October is rife with heavy selling – it‘s that markets Friday sold off as no hint of a rescue from Powell came about during his brief speech. The Pavlovian dogs were disappointed.
Image and article originally from www.barchart.com. Read the original article here.
