Sell in May and Go Away?

Not so fast...

Good afternoon!

Here we are yet again, commencing another month and nearly approaching mid Q2. It’s been quite the joy ride to say the least so far this year, with a whole whirlwind of events and volatility present in the markets. And although May is generally foreseen as a selling environment, ironically, despite the existing market dynamics, that may not be the case. The goal for this past week was to try and achieve the 5588-5632 zone and enter the channel (5640’s) with a probability to expand back to 5688-5732, with 5710/5724 being vital. WE DID JUST THAT! Stalling 5724.50 to the penny. We not only met all our weekly conditions, we even expanded. So, what can that imply for our period of May 5th-28th?