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:

  1. According to Stock Trader’s Almanac, the first trading day in September, SPX up 11 of last 14.
  2. See 08/27 Market Recap for the Labor Day seasonality chart, tomorrow should be bull friendly.