Some main principles
Usually best to focus on what has most pivotal momentum; ie, above all pivots (short term trading aside, this means, yearly, half-year, quarterly and monthly levels).
Enter or hold longs when asset classes hold or recover pivots.
Long term pivots (yearly and half-year) more powerful; medium term pivots quarterly and monthly next; then short term pivots weekly and daily - use appropriate timeframe for type of trader and trade.
Assess risk exposure through analysis of key benchmark index pivot status versus safe havens.
Majority of positions 'should be' above all pivots when markets permit; less active approach would focus on yearly, half-year and quarterly pivots only (ie allowing some moves below monthly pivots).
Can vary risk exposure with leverage to go extra long, or be less than fully long, or adding safe havens, or in some cases, shorting.
Risk asset classes that hold pivots as others break are often (not always) the leaders on the next move up; or to put it another way, risk assets that recover pivots first have more pivotal momentum and are often the next leaders.
Additional tips on entries: better with some moving averages (10, 20, 50, 100, 200, 400) with rising slope on your side; also either MACD (i've tweaked settings) turning positive or an RSI entry (full discussion of these ideas a bit too much for this post).
Additional tips on exits (exits trickier than entries): above all pivots is always candidate for hold. If long term & medium term level rejection, and some other technical concern on higher timeframe chart (upper Bollinger band or overshoot, RSI divergence), then out. If all moving averages have rising slope in a real power move, then often can give trend benefit of doubt.
Best days to position are when multiple key indexes or multiple safe havens say the same thing. I also factor in valuation, sentiment and timing as additional factors.
Pure counter-trend setups (ie buying support levels, below all pivots; shorting resistance levels, above all pivots) are rare; energy spent focusing on these will often distract from better trend moves. Similarly, buying something that is below yearly, half-year and quarterly pivot yet has recovered a monthly pivot will work occasionally - but usually better to focus on owning what is above all pivots instead.
With this in mind, what risk assets held up best in August and were first choices for buys after 8/22?
Above all pivots throughout August
FXI
KWEB
RSX
EWZ
Slight breaks of AugP (above Q3P, 2HP and YP) then quick recoveries
SHComp - 1 day break
SMH - 1 day break 8/8, then hold from there
EEM - 2 day break
DIA - 2 day slight break 8/18-19, but under SepP 9/5-8
QQQ - 3 day break 8/17-21, 1 day break 8/10
Others that were a bit weaker
ACWI - benchmark global index, not really traded) 5 days under AugPs and all above SepP
INDA - 7 days under AugP, all above SepP
SPY - 9 days under AugP, all above SepP
VTI - 11 days under AugP, all above SepP
XLF - 13 days under AugP, Q3P and 2hP break, still under SepP
IWM - below Q3P and 2HP 15 days
Now turning to safe havens for clues on risk exposure, hedging, or trades in their own right
VIX above 2HP 8/10-14 and 8/17-21; below all pivots 8/22 on
XIV below monthly pivots 8/10-9/8
GLD - above all pivots 7/26
GDX - above all pivots 2nd time 8/15
TLT - held 2HP 7/28 on, held Q3P 8/1 on, above all pivots 8/23-9/12
HYG - below monthly pivot 8/7-30, then again 9/6-11