Historical data shows that the market has performed poorly in September every year since 2017. Will this cycle repeat itself?
Technical chart level:
Since the positive stimulus on August 29, according to the 123 rule, the trend line has been broken as mentioned last week. The rebound has not broken through the previous high. It only needs one last wave to break through the previous low to declare the end of this round of bull market.
In the medium term, the rebound point of the band is around 2.2w
Data level:
Stablecoin stocks have been slowly declining, and liquidity is gradually drying up
Macro level:
September is also the time when the Fed or Federal Reserve releases unemployment index, GDP or interest rates. At the recent Jackson Hole event, Fed Chairman Jerome Powell said that the Fed is likely to "continue to raise interest rates multiple times." This may lead to the flight of funds from the already illiquid market.