Tackle Today: We’re still in May
May 14, 2019
≈ It’s been a long cold lonely winter. ≈
The stock market is full of clever axioms. Some have a lot of truth and can greatly improve your trading. However, the market is also full of statements and beliefs that are widely accepted that do not involve the principles of technical analysis and proper trade management at all. “Sell in May and Go Away” is one of them.
Coach Mark Justice on the Trading Justice newsletter, May 2019 edition
Looks like May is not going away soon. Not Theresa May & The Brexit Stooges, but the month of May. Once a resistance that took 1 year to be broken, now support, the 2,800s looks like a bad omen. Here we are again. Old resistance, new support. Once a bad omen, always a bad omen.
(See? See? See? I told you to sell!)
I don’t believe in witches but they surely exist.
The May 2019 edition of the Trading Justice newsletter brings joy to the avid trader. Coach Mark Justice opened up the Book of Shadows of the “Sell in May and go away” axiom, discussing the acclaimed market phenomenon—with technical analysis—using 10 years of data, from 2009 to 2019.
Grab the edition in (a beautiful) PDF format HERE. If you prefer to read it online, we’ve also got you covered, access it HERE.
“Little darling, it’s been a long cold lonely winter
Little darling, it feels like years since it’s been here”
Chart of the Day
Curse of the 2,800
The 2,800 level on the S&P 500 index works like a magnet. We’ve been there a total of 15 times in about one year, either as a support or as a resistance.
Video of the day
How to trade an In The Money Covered Call (PANW Example)
Watch Coach D. discuss the high probability of profit, ITM covered call on PANW (Palo Alto Networks).
Today’s line up
Tales of a Technician
5 Tips to Fight the Bear
1, 2, 3, 4, I declare a TRADE WAR. Yeah, I know I already did, but like, let’s do it again, because it’s May and why not? – Sir Trump
Monday was a nasty pill for bulls to swallow for multiple reasons. But maybe the meanest was the upending of Friday’s picture-perfect bullish reversal candle. I mean, to gap below last week’s low, right off the bat? That’s some next level nastiness.
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