The market is out of wack this year so I think the traditional thinking are also out of the window. While we are unsure if this rebound rally would hold, the tide seems to suggest selling in May may not be the trend this year. Trends are there when things are "normal" but this year is anything but normal. I'll test with some nibbles and a tight stop loss to avoid missing opportunities. Hoping for another dip before we blast off. Ready to blast off, guys? How many is still super cautious holding cash atm?
Key Resistance Level: Will S&P 500 Break Out or Turn Lower?
The S&P 500 has rebounded to 5,650 points—its level before April’s sharp sell-off and a key technical resistance zone. Following strong earnings reports from the Magnificent 7, this week’s market focus shifts to the FOMC and its signals on interest rate cuts. The market is still pricing in three rate cuts this year.
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Can the S&P 500 successfully break above the 5,600 level, or will it turn lower? And more importantly, can it overcome the seasonal “Sell in May” pattern?
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