September began with volatility, as Tuesday's market sharply reversed Friday's bullish sentiment, largely due to declines in commodity and technology stocks. While the broader market, including financials, held steady, the sell-off in tech and commodities pushed the VIX into a buy signal, and various sectors, such as semiconductors and the Nasdaq, saw significant declines. Bonds saw a "risk-off" trade with money moving into safer assets, while oil hit new lows for 2024, impacting energy stocks and gasoline prices. The outlook for the rest of the week hinges on whether the broader market will follow the downturn seen in these specific sectors.
This content was originally posted on the Stock Market Timing YouTube Channel