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Are there any other market or stock that trade down at least 75% of the time staring in may?
"Sell in May, Go Away." - eh?
https://en.wikipedia.org/wiki/Sell_in_May
You can identify seasonal trends in lots of things. I look at specific underlying factors and impending events, also, though.
"Credit anticipates, equity confirms."
The main thing that steepens the path for US equities in any time frame going forward is rising interest rates. Another ffr hike is expected from the FOMC on 6/13. Expectations of rising rates are apparent in the movement in bond yields (see ^TNX) - the 10-yr UST bond bumped above 3% briefly in late April and that led to sideways action in the S&P for a few weeks. Watching yields will be instructive - if ^TNX starts running to 3.1+% in the next few weeks, I'd expect equities to slide or flatline going into June.
The results of NAFTA talks in the coming week or so could have a binary influence - a breakdown could revive trade war fears generally and hurt US equities.
I have been trading bullish SPY positions heavily for the last few weeks and have done well, especially in the last week or two. I have bullish trades coming off in the next week, also. But now I am looking to position for stocks sliding into and after the June FOMC.
The meeting between Trump and Kim coincides with the June FOMC.......more fuel for a volatility spike, potentially.
"If The Fool persists in his Folly he will become wise." - William Blake