- Ryan Mallory
It is a new month and the market behavior today is acting as if it wants nothing to do with the gains seen last month.
That wouldn't be surprising either considering that August is the worst month of the year, historically, for the Dow and S&P 500. As a result, I don't have huge levels of optimism entering the month, and instead will let price action be my guide (as it always is).
New all-time highs were reached today, but quickly thereafter the bulls retreated as oil refuses to establish a bounce of any kind and now trading below $40/barrel on the year.