September curse? When will the US stock market bottom out? Buy or sell now?
On the first day of September, the three major stock indexes all fell sharply, achieving the largest decline since August 5th. Even $CBOE Volatility S&P 500 Index (.VIX.US)$ Yeah?
Yesterday, the Nasdaq also slightly probed lower again! From a technical analysis perspective, $Nasdaq Composite Index (.IXIC.US)$ yesterday once fell to 16984.67 points, close to the previous August 13th support level (in the range of 16,895-16,943).
And more importantly, it is also close toretesting the MA120 moving average (at 16962.55 points). From a trend perspective, the mid-year line is often a watershed for the market in the long or medium term. If the Nasdaq confirms probing below the mid-year line again, it also indicates signs of further market weakness.
Just as it was reported before the market opened. $Tesla (TSLA.US)$FSD, expected to enter China next year. Tesla, which has always not followed the market trend, also started trading before the market opened.Breaking through the recent sideways trend of 220, it once rose more than 3%!With the pre-market rise of Tesla, can it lead to a rebound? $S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $NASDAQ 100 Index (.NDX.US)$ Bring hope?