Thursday, April 24, 2008

Buy in May and stay 'til Labor Day?

So, the saying goes "Sell in May and Go Away." Well, that wasn't the case last May (the S&P saw a 3+% increase, and the DJIA gained +4%), and currently things are looking like we could have a push higher. The three major indexes had their 20EMA's cross up into their 50's, while the 200EMA is providing some resistance. The U.S.Dollar index had a strong push up, gold is going down, the Fed might be cutting rates again, positive earnings are provoking buyers...I'm almost fooled into thinking May will see bulls making an effort to revamp the technical landscape.

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