Interesting read courtesy Jeff Hirsch :
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august seasonality
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translation: Weakness into Aug. 10th-11, rally a few days then down into the 17th or 18th of Aug. then sideways to up till a few days before the end of the month where it surges up. Kool
Big Julys are often followed by late-summer or autumn selloffs and better buying opportunities than now. July gains in excess of 3.5% for DJIA have been followed historically by declines of 7.2% on average in the Dow with a low at some point in the last 5 months of the year. ( thats about 300 points from 4170) Courtesy Stock traders Almanac
Sorry, i misspoke! The translation would really be weakness into the 10th-11th , rally into the 17th-18th, then sideways to down till a big surge near the end of the month. Kool