The LT wave did an OK job in April.
Expected strength in the first days was short-lived again, and followed by a significant decline in the subsequent weak period. The wave was correct on the overall direction but not on the magnitude of the move. Sometimes it is like that.
Here how it is expected to continue in May:
There is projected strength for the first 3 weeks, and of course there is plenty room for some rebound rally here. The last week of the month is when we can expect some weakness to return .
Normal caveats apply: don’t bet the farm on LT waves.