Goldman Sachs trader says selling pressure on US stocks persists

Goldman Sachs' trading division stated that the U.S. stock market may face additional selling pressure from trend-following algorithmic funds this week. The S&P 500 index has already triggered a short-term sell point, and Commodity Trading Advisors (CTAs) are expected to remain net sellers over the coming week. Goldman Sachs predicts that if the stock market declines, approximately $33 billion in sell-offs could be triggered this week. If the S&P 500 index falls below 6,707 points, up to $80 billion in systematic selling could occur over the next month. Under stable market conditions, CTAs are expected to sell about $15.4 billion in U.S. stocks this week; even if the market rises, they may still sell around $8.7 billion.