FX:SPX500 S&P 500 index of US listed shares
Are you familiar with the term "Sell in May and go away"? I think a little differently. At this point, we have an excellent opportunity to sell, but we need to stay on the market. According to my observations, all the movements in the consist of five or three waves. The wave which we are seeing now on the chart is a wave (5) in the count off the February lows. I'm not sure that wave (5) has already been completed, but I think we're near the time of its completion. Perhaps the market will rise a little higher to be follow downward. Tapering triangle which we are seeing now in the chart has a long time of formation. The market has broken the support line of ascending channel. I do not like it. For this reason, I take the following decision. We are doing the reverse position.