Sell in May and go away, huh? Well, we’ll see. The thing with this Everything Bubble is that it never seems to pop. Not in any meaningful way in eighteen solid years! Indeed, as I’m typing this Thursday night, the Dow Industrials seems like it has caught its breath and is ready to blast higher again (the indicators are the CCI and RSI, shown below with each index chart).
The same holds true for the Industrial’s brother, the Transports.
Besides these two, just about every other index looks like it “wants” to roll over, even if just to catch its breath. Indicators be damned, though, it would take precious little effort for the market to simply keep rolling on into new lifetime highs.
I remain lightly positioned, as it seems right now that the weakness on Monday and Tuesday was little more than a brief drink of water for the bears in the midst of an endless, parched desert.
