Jeff Bierman, chief market technician at TheoTrade, told MarketWatch he doesn’t expect the market to reach a bottom until October. He anticipates a continued downtrend next month as September historically tends to be a harsh month for stocks.
“You’re turning into the corner of the market where it’s overbought, then you’re turning into that weak seasonality, then you’re turning into a Fed rate hike…” Bierman told MarketWatch.