September Starts With a Seasonal Stumble

We expect a big rebound in the stock market this week since we are now grossly oversold.
September Starts With a Seasonal Stumble
A trader works on the floor of the New York Stock Exchange on Aug. 5, 2024. AP Photo/Richard Drew
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Commentary

The traditional pattern in a Presidential election year is that the stock market tends to rally during the summer months, during the big conventions, as the candidates promise us everything and anything. Then the markets tend to drop in September and hover in uncertainty until the election gives us a clear winner. Then, the markets tend to soar, after knowing who the winners will be, in Congress and the White House.

Louis Navellier
Louis Navellier
Author
Louis Navellier is chairman and founder of Navellier & Associates in Reno, Nevada, which manages approximately $1 billion in assets. One of Wall Street’s renowned growth investors, Navellier writes five investment newsletters focused on growth investing. In addition to appearing on Bloomberg, Fox News, and CNBC giving his market outlook and analysis, he has been featured in Barron’s, Forbes, Fortune, Investor’s Business Daily, Money, Smart Money, and The Wall Street Journal.