Here’s an interesting situation.
The market is acting really calm, not doing much of anything.
But everyone’s talking about the ‘September Angst,’ the confluence of big economic events that are coming up in just a few weeks.
This is from JPMorgan’s Early Look At The Market, put together by Adam Crisafulli:
There is a ton of September angst — the press over the last few weeks (but really in the last 24 hours) has been full of articles warning of heightened market volatility in Sept due to the Fed (tapering), Washington (the debt ceiling battle), and Europe (Germany’s Sept 22 elections). S&P 500 Index Committee predicted a “very messy” Sept (http://goo.gl/YWU2BU) while strategists continue to warn investors of the potential for market disruptions (“How the S&P will lose 90 points” http://goo.gl/y40jaF; “stars aligned for serious US correction” http://goo.gl/Pmg67e). Politico (early Mon morning) spoke of impending doom in Sept in Washington and lamented the lack of interest on Wall St in the upcoming disaster (http://goo.gl/eTyLPg). Even Europe, despite all the progress achieved, continues to worry a lot (a majority?) of people (“So you think Europe’s debt crisis is finally over? Time to think again” http://goo.gl/YMpD2K).
Make of it what you will.