Ever heard the Wall Street adage “sell in May and go away?” Well, Halloween marks the unofficial end of that statistically weak period for equities. Between November and April US stocks tend to rise significantly more than the rest of the year. However, this time may be different.
Kimble Charting Solutions’ website (one of my daily stops) pointed out a serious headwind for the S&P 500. Support, once broken, becomes resistance and the S&P 500 is now facing two big overhead challenges: the blue resistance line and its red moving average.
My newsletter’s timing models for the S&P 500 Index and US Equity Funds triggered sell signals on September 25.
♦ Please note that my readings will change without notice, so please don’t buy or sell solely based on anything you read in this blog. ♦