Last week we have identified potential bear flag which has been playing out so far. See blog August 28. Four day weeks are usually very challenging and I don't expect this one to be different. Be short or be in cash is the game now. Not much to say but the line of least resistance is downward. Exercise self discipline, this means that you will do your market studies every day, thoroughly and religiously, and that you will follow the rules of successful trading. Remember, markets are never too high or too low and be aware of your emotions of fear and greed. Indecision of the market participants and volatility is expected to continue.
All the best in the week ahead !
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