Don't be surprised if the stock market stabilizes or bounces back in the next few days. The markets are due for a short-term rally after the dramatic drop of the last six days. This usually happens after a sell-off. But, buyer beware. Anyone who automatically assumes this is another easy "buying opportunity" should do so with caution. I don't think this is over yet and here are a couple of reasons why:
1. We are still waiting on the Fed to announce if they will raise rates in September.
2. China's stock market extended its steep losses as lower interest rates failed to halt a $5 trillion loss.
Will the market head higher or lower from here? No one really knows, but we are certainly in for a volatile ride for a while I suspect. That leads me to a simple poll question today...
As always, take a moment to vote and leave a comment on the markets. I'd love to hear what you have to say.