SO...it IS May......

Much dreaded MAY is here.....


We have gone 2 trading day in May already....


Technicians use 5 trading days in January to see the trend & how the month ends to know the trend for year....


It will be wise to use the same trend for May & see how it goes.....


Many are scared of May already & Friday's TAPE was of no help.


Many bears are playing their "sure shot" bet to get huge gains.....


It IS shaping to be an epic battle between bulls & bears.


Bears are counting on history to give them the edge


As of Friday's close here is the numerical challenge for the key indices :


S&P 500 @ 1881.14, all time high 1897.28...only 16.14 points away


Dow @ 16512.89, all time high 16631.63 only 118.74 points away


Nasdaq @ 4123.90, 14 year high 4371.71...247.81 points away


I have a strong feeling that we may take all time highs in Dow & S&P 500 as early as Monday which will give a severe blow to the bear thesis.....


This MAY may not be the old MAY @ all...we have a very good chance to see bullish firework.....


SO ...it IS MAY.....& do NOT go away $$$$$


BLOG does NOT give buy or sell.


Saleem

Posted in: Mixed