Chart analysis for EEM, FXI, XLY, RTH

Today’s action has reinforced my loathing of maintaining August  trading positions, writes David Fry, founder and publisher of The ETF Digest. The markets are  supposed to be forward-looking, discounting future news. Light August trading conditions sometimes  fool Mr. Market and make things less efficient.

We’ve experienced repeated up and down days with sell-offs becoming the more  impressive. While August is usually  marked by low trading volumes, September and October are often seen as both  volatile and bearish. Some would argue  that the fall is the season to buy right up to the Christmas holidays. But, like I said Sunday, “I’m just trying to  get through August.