In the monthly update on our website, we clearly mentioned that August would be a bearish month. This was concurrent with the predictions of the Annual Letter 2024. A major drop has been observed across indices. We took short positions in the S&P 500 at 5380, the Dow at 39850, the Nasdaq at 18450, and the Russell at 2100 last Friday. The S&P 500 reached a low of 5182, the Nasdaq reached a low of 17293, the Russell reached a low of 2005, and the Dow reached a low of 39218 (when this post was originally published).
Latest Update: S&P500 made a low of 5091, Dow made a low of 38392, Nasdaq made a low of 17243, and Russell made a low of 1976.
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