What to Watch for This Week as Markets Continue to Struggle

Shah Gilani|October 2, 2023

Early on in my career as a trader, I learned something crucial, and it goes something like this: when there’s nothing to do, do nothing.

The bottom line is, markets are shaky right now because investors are indecisive. There isn’t anything in the news or other emerging narrative that conveys a sense of enthusiasm about the market and all the news that’s on the horizon seems to be bad.

Given the absence of factors that would drive momentum and the lack of buying volume, we’re seeing a lot of stocks roll over and sell off. For evidence of this trend, look no further than what’s happening with Apple Inc (APPL), which has long enjoyed its status as a go-to “safe haven” stock whenever markets run into trouble. But now, even as other stocks are trying to battle their way back up, APPL has no energy behind it.

That means right now, it’s time to keep your powder dry and your eyes sharp for indicators of where markets are going to go. While we haven’t hit a full-on correction yet, the S&P 500 is hovering right at a crucial support level, and what we do next will have a lot to do with whether it stays the course or breaks below that level.

For everything you need to keep an eye on this week, check out this video:

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Keep an eye out as we look for opportunities throughout the week, and I’ll be back in touch.