On Sunday, we observed that September is a good month for picking apples. It is widely viewed as a rotten month for stocks, which has been true during 55% of Septembers since 1928. But those selloffs have often turned out to be good opportunities to pick fallen stocks just in time for a yearend Santa Claus rally.
The S&P 500 fell today back towards its 50-day moving average (chart). What could cause the index to drop below that to find support at the 200-dma, which is currently at the bottom of the bull market's channel? Consider the following seven possibilities:
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