After last week’s sell-off, what’s next? Here’s some insight from Pete Najarian and Carter Worth, Chief Market Technician At Oppenheimer & Co.
Pete Najarian expects considerable volatility for the next 3 or 4 weeks. If you’re planning to trade during that time, he recommends targeting individual names as trades. However, he expects violent ups and downs. “If you don’t have a stomach for it,” Pete says “you’re better off on the sidelines!”
Carter Worth anticipates that the S&P will drop to 1475, the level where it was before the Fed cut rates. He recommends sitting back and letting the market burn-off some volatility.
