The line in the sand — where I would draw it
If you’ve been confused by the stock markets lately, don’t feel alone — there haven’t been a lot of good tells, but there are plenty of contrary opinions and a lot of lackluster trading days. But for what it’s worth, here is the line I will be watching above all else:
If we see more resistance around that 1335 level on the S & P 500, we will know we are on to something. And unless and until that line is reclaimed and it holds, the “sell in May” slogan will be the song of the day.
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