5-8-17 Short And Sweet

 

Todays report will be short and sweet, there is no need to cover 'everything' after the weekend report, but it does still include over 20 charts to cover a number of ideas, some new and others that we have discussed in prior reports.

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MAY 6th Weekend Report

Keeping in mind that we have the French Elections on Sunday and the results can cause a short term reaction, let's review the market action from last week and our current expectations.

 

SPX WEEKLY - The SPX finally broke to new highs last week ( We know that the Nasdaq has been running like a bull).

 

SPX -  The SPX will be due to drop down into its own ICL soon. In the past the 200ma has been rather reliable as a support.  Since the 200 is rising, maybe the SPX will see 2300?  As you can see from previous drops down into an icl, a drop like that can take a few weeks once it starts to roll over.  "Sell in May and go away?"

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Friday May 5th

Lets get right to the report...

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