Shall I compare thee to a summer's day?
Thou art more lovely and more temperate:
Rough winds do shake the darling buds of May,
And summer's lease hath all too short a date:
Sometime too hot the eye of heaven shines,
And often is his gold complexion dimm'd;
And every fair from fair sometime declines,
By chance or nature's changing course untrimm'd;
But thy eternal summer shall not fade
Nor lose possession of that fair thou owest;
Nor shall Death brag thou wander'st in his shade,
When in eternal lines to time thou growest:
So long as men can breathe or eyes can see,
So long lives this and this gives life to thee.
– William Shakespeare (Sonnet 18)
May Day, May Day…
A cry for help, or a traditional spring festival.
A day of steady but consistent selling (or profit-taking) as the market decides not to advance upon the high, just yet.
The T volume oscillator turns negative and we should keep one eye on this, as that is a potential sell warning signal.
SKEW advances higher indicating the continued prescence of event risk.
The market seems slightly hesitant about moving higher, and so a gentle pullback may be needed first, but so long as we hold onto the rising line from the recent low, and stay above the Mid-channel, it would seem to be just a matter of time before advancing beyond 2400 – it is a bull market.
Be prepared for whatever comes next:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.