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Tackle Today: We’re still in May

May 14, 2019

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Tackle Today: We're still in May (Photo by Mark Tegethoff on Unsplash)

≈ 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

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.

Traders Lounge 11PM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

The Coaches Show 8:30PM EST

This is our weekly MasterMind group. Join the coaches tonight, 8:30pm EST to discuss the markets and help you prepare for the week.

Halftime Report 12:30PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.

Market Recap

The Market Recap is designed to give you a quick overview of the day that was. While brief, this report is designed to cover all of the major events that drove the markets that day and help you plan for the trading day ahead.

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