Well this April has been great for the bulls I think many of you heard about “sell in May and go away” although I can’t remember whether we had a really bad month of May for stocks in recent years
Surely this will ripple through the market, lack of consumer discretionary spending will doom so many companies... ... and almost new highs on the SPY
whelp, this has now been the largest bear rally in history, up over +31% off the march 23rd low in the SPX as of yesterday's close. if that was it, and we go on to print new highs at some point in the future, then would be one of the fastest bears (start to finish) ever
^^ this 1000% hard to see market the really going through another march when QE-infinity is now once again a thing. gotta love it. Spoiler: Click to Show!
seems like (for now) the 618 retrace off the bear low to ATH is about where the SPX bounced off of. think it just missed the 200 day as well. might be time for some kind of pause here, but can't really see the lows getting revisited when QE-infinity is out there
claims were a disaster again this AM, but i guess (maybe?) some silver lining, they are coming off...albeit from a ridiculous level
oh and i forgot to add this in here too, but here's just a quick look at the "average" sell-in-may's period (may-oct) it's the worst of any 6-month periods for the market. QE-infinity kinda clouds this a bit though lol
Remember, in this market only “initial unemployment claims” matter. The total current claims is just a number
The most bullish index, the Nasdaq, finally fell out of its wedge. Just had to wait til May. VIX breaking out of a big flag?
