Stocks could hit a record this week, but the move may be short lived

The S & P 500 is on the verge of something unexpected — especially for September. The broad market index entered the week less than 1% below a record last reached in July. That comes after the benchmark's best weekly performance since November — rising 4%. Traders are also eagerly awaiting the Federal Reserve's next policy decision, due Wednesday. The Fed is expected to cut rates by at least a quarter-percentage point.

"While September started off rocky, it bounced back last week and thus it is essentially flat . Recall that typically the seasonal weakness runs from mid-September through early October, so we are entering that window this week." Krinky isn't the only one on the Street treading carefully with the S & P 500 near record highs.

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