The bottom line the short-term trend is down and I hold no short position overnight.
As for tomorrow, I don’t see any trick but since so far the seasonality worked pretty good (see 08/27 Market Recap), so I guess we might see an up day tomorrow according to the seasonality below:
- According to Stock Trader’s Almanac, the first trading day in September, SPX up 11 of last 14.
- See 08/27 Market Recap for the Labor Day seasonality chart, tomorrow should be bull friendly.
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