We expected a volatile September and we had it “Big time”. The S&P500 crashed on Friday by 2.4% and erased in one day the gains of the last two months. In my last week video I mentioned two facts: September is historically considered as a bad month for investors and that stock price multiples are higher by 10% from the average. The “one million dollar” question is: Is this the beginning of a bigger decline, or will the central banks, as they did 3 times during the past year, stop it again? My guess? The market will continue much lower.

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