We had a very interesting April with steadily rising stocks setting new records. The expected mild weakness in the first days didn’t really materialise, but the stronger final 3 weeks panned out beautifully. A nearly 5% rise for the S&P 500 within a month is something you don’t see very often.
For May the LT wave continues like this:
Weakness in the first half of the month, which could last until around the 13th. Then a stronger week until the 22nd.
Some sharper decline could come in the final week, with the blue values dropping to unusually low levels in the days around the 28th. It will be interesting to see what comes out of that.
The usual caveats apply. Good luck.