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Sell in May Target Zone (by MoneyMiser21)

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The end of May finds the bears fat and happy… and also near a dangerous turning point. (Editor’s note: Fat? OK, OK, I could lose a few. – Tim)

Multiple areas of confluence lie ahead to slow, or possibly turnaround the more than 200-point drop in the e-mini S&P 500 futures we’ve seen (and for some enjoyed) since the new all-time high put in to begin this month.

They look like this (as always, click for a ginormous version):

Area #1

We will most likely (if not already have by the time Tim posts this) hit a daily chart untested demand zone. Price action from March 8th and 11th created this zone between 2753.75 on the top, and 2726.50 on the bottom.

Price action made quite a few other untested demand zone lower during the bottoming phase of late December and January, so not all hope is lost for the bears in this case.

Area #2

A 38.2% fibonacci retracement from the December low to the May high comes in just beneath the bottom of the demand zone, at 2715.05 (which we round down to 2715 because the /es trades in quarters)

Area #3

Now we get into timing.

The May 1st top coincided with a 1.272% fibonacci time projection of how long it took the /es top drop from its prior all-time high this past September, to the December low.

We’ll hit a 1.618% time projection of that same drop next week on June 4th.

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It’s called Slope Rules.

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CLICK HERE to sign up for a Gold or Diamond level membership, and lock-in the current rate to access Slope Rules.

And put a smile on both your face and Tim’s. Good luck out there!

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