We had another day of Distribution on the major indexes to kick off a holiday shortened week.

Continued institutional-grade selling has us cautious.

We might expect to see another round of lows in the coming sessions. Such an event could just as easily trigger a capitulation followed up by bottom buyers. In other words, look out for increased volatility, buckle up.

Lack of high-quality growth stocks setting up for new highs prevents us from entering the market. As for shorts, perhaps we’ll see some entries worth noting this week.