Stocks are coming off a losing week as they suffer through the summer doldrums, but it could be a buying opportunity for investors, according to chart analyst Katie Stockton.
She sees it as "a corrective phase, something that should yield a buying opportunity."
The S & P 500 is down more than 4% in August, as concern over higher rates for longer and a slowdown in China hamper investor sentiment.
That's significant, she explained, because it gives investors a time frame for what to expect from this corrective phase.
For the broad market S & P 500 , she takes the next key level of support from the index's February resistance of 4,195.
Persons:
Stocks, Katie Stockton, CNBC's, it's, Stockton
Locations:
China