The bold line is exhibiting a reduction in speed as SPX has climbed.
I let you draw your own conclusion as to what happens next but it is interesting to note that this bold line is at 2270 for year end.
Comments
reluctantplumber
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So maybe it is Sell in May and go away?
YaKa
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i think 2040 has high potentiel of being a buy
i would surely sell 2140 in june (straegically)
that s a long time forward
for now short seems the solution
reluctantplumber
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OK so you are now on board with 2140 that is progress :) Sell in May might be absurd superstition or to perfect or too simple, but to the point of one of your own posts - it happens often. As always, thanks for your comments.
YaKa
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I was always keen on shorting 2140... but it does not mean it goes there.
falling a bit here to 2050.. getting everyone to shout "sell in may and go away" and rebounding to 2140 in June is sufficiently animal/tricky to be realistic:)
reluctantplumber
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That could be the way it pans out. I am beginning to think that S&P may have topped already before a decent correction.