Get Geared Up For An August Pullback, Says Strategist Katie Stockton

Wall Street could see a pullback of 3 to 5 percent next month, strategist Katie Stockton told CNBC on Monday.
“Stockton explained when she would reconsider her position in the case of a larger pullback.
It “depends on where support is at the time at which we’re looking for that pullback,” the chief technical strategist at BTIG said that”Right now support for the S&P 500 is around 2,400.
After Stockton’s predicted pullback, she said, the S&P will reach 2,640 in the intermediate term — weeks to months.
If I start to see a lot of breakdowns in that kind of pullback, meaning stocks taking out their 50-day moving averages or support levels that’s when I get nervous,” Stockton said.

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