---
title: JPMorgan’s trading desk is turning tactically cautious after accurately navigating several of 2026’s major market inflection points.
description: "The message is not outright bearish: economic growth and earnings remain resilient. But the next two to three weeks could be volatile and directionless.\n\nSix risks stand out:\n\nSeptember is now a live Fed meeting, with markets pricing a higher probability of a rate hike.\nInvestor positioning offers no clear directional signal.\nHeavy post-Labor Day bond issuance could widen credit spreads.\nSeptember is historically the S&P 500’s weakest month.\nMomentum strategies are experiencing an unusually severe unwind.\nEven strong Broadcom earnings may fail to revive AI and semiconductor stocks.\n\nThe main catalysts are payrolls, CPI, oil prices and geopolitical developments.\n\nJPMorgan’s conclusion: reduce net-long exposure and consider more market-neutral positioning.\n\nThis is not a call for a bear market.\n\nIt is a warning that strong fundamentals may not prevent a choppy September—particularly beneath the index level.\n\nSource: zerohedge"
---

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# [JPMorgan’s trading desk is turning tactically cautious after accurately navigating several of 2026’s major market inflection points.](https://blog.syzgroup.com/syz-the-moment/jpmorgans-trading-desk-is-turning-tactically-cautious-after-accurately-navigating-several-of-2026s-major-market-inflection-points)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Sep 1, 2026, 3:35:54 PM

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