S&P 500 Weekly Review: Will Traders See A ‘May Swoon’?

A LOOK AHEAD FOR MAY OPTIONS EXPIRATION (OPEX) It’s been a very tricky market tape for bulls and bears over the past couple of weeks. Bulls have been unable to press the stock market above resistance, while bears have been trying hard to break bigger support levels but in vain. A lot of sectors are breaking down, momentum and breadth is waning, and global issues especially with the so called “BREXIT” vote are looming in current and future headlines/news. There are many calls for “Sell In May and Go Away”. Consolidation/Digestion occurs either via price or time. While the short term action is choppy/range-bound, all that the stock market indices have managed to do so far is to pullback 2-3% after a mammoth 11-12% rally higher. The S&P 500 will be the…
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