Traders react after the closing bell at the New York Stock Exchange (NYSE) on August 5, 2019 at Wall Street in New York City.

Johannes Eisele | AFP | Getty Images

Investors should remain guarded for the rest of August and wait until next month before thinking about returning to stocks despite any one-day bounce, according to J.P. Morgan.

Strategists led by Mislav Matejka doubled down on the bank’s careful stance and prediction of a market pullback, saying that better seasonal data, central bank easing and a possible postponement of tariffs could juice the market in September.

“At the overall market level, we continue with our tactical cautious stance, advocating a market pullback during August,” Matejka wrote in

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