Maybe You Should “Sell In May”

by Lance Roberts
Real Investment Advice

Last Friday the market closed below its 50-day moving average. Theoretically, such a close should have sent traders scrambling for cover Monday morning. As I noted in this past weekend’s missive:

“While the long-term picture still clearly suggests a high level of risk aversion, short-term dynamics have improved which led to a small increase in equity exposure several weeks ago. As shown below, the market has continued to defend the 50-day moving average of the last week while in a corrective process, until Friday.”

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