August is a risk off month

I am amazed at how many traders are currently delirious and are avoiding the fact that we are heading into August, which is historically not the best month to have the risk on. We are getting closer to debt ceiling resolution, it may give the market much needed boost to challenge 1370 high. It would be prudent to use that rally to lighten up. It will be too late when we start getting down right ugly economic numbers in August. Unemployment will be the first and the worst of them I bet.