The bulls bounced back last week after pushing the top of the current trading range despite a mixed bag of earnings and economic news. The bears tried to make some noise at the beginning of the week following the prior week’s push to support but were unable to hold the bullish run to new highs.
The last 3 weeks have seen the Dow up 300 points, down 318 points, and with last week’s gain of 165 points, all signs are pointing towards a volatile May not only for the Dow but for all of the indexes. History says “sell in May and go away” and the talking heads will be preaching this theme over the next few weeks but it isn’t always the case as the upcoming month also has a history of being bullish. (read more…)
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