Asymmetry.
Septembers can often be tricky as professional stock traders begin to liquidate some of their positions ahead of the year-end with tax considerations, regulatory filings and the process of locking in profits in mind. This becomes even more of a potential issue with the S&P 500 starting the month so close to its all-time highs and an economic soft landing entirely assumed without any questions asked.
This has created something of an “asymmetry of risk” where there is greater potential for stocks to fall further on any disappointments than there is for them to rise on any upside surprises. The…
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