The markets look a bit choppy this morning. Not unexpected – short term traders may take a breather here, especially when they look at the stair-like pattern we have been in for the past few months:

S&P 500 hitting a level of resistance

In addition to traders looking for a continuation of the current pattern, the S&P 500 is at a level of resistance. And, lastly, don’t forget this is August – everyone is headed to the beach.

Enjoy the last few weeks of Summer!

-John