Market Seasonality, S&P 500 Levels To Watch, And A Look At The Home Builders Data
Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show, joins us today for a recap on the market seasonality from both the old market adage from those of the Jewish faith to sell the markets on Rosh Hashanah prior to Sep 6th and buy back in after Yom Kippur Sep. 16th. This was taken in tandem with where the holidays fell on Labor Day this year, this week’s options expiration and roll to the new contract, and the quad witching coming Sep 17th. We then discuss the technical levels Joel is watching in the S&P 500 and that is still very much staying in trading range and grinding higher. We wrap with some thoughts on the recent home builders figures, as one area of concern to watch.