Nishant Pant gives a trade on the consumer discretionary sector.
September, typically a challenging month for the markets, often leads to significant corrections. This year, it started on a weak note, but quickly turned bullish after the Federal Reserve surprised everyone with a half point rate cut. Several sectors, including consumer discretionary, have experienced a substantial rally, reaching levels that may require a cooling-off period. When a stock or ETF becomes overbought, it can maintain that condition for an extended period.
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