Sell in May come back in September. May be the tradition will last. At the present time, since the market made the step forward as expect and bet for an agreement about Greece, there is no more good news but the continuation of the European QE
. Since Inflation
datas in Eurozone came above the expectation, there are a lot of chance that ECB would keep its agenda and schedule for the end of QE
On the US side, things are not bad despite the alarm bell of Roubini. There is a correction process, but nothing more then that.
Target may well go until 4625 but not bellow.