Fund share prices as of: 5/02/07

Fund -	G Fund	F Fund	C Fund	S Fund	I Fund
	11.90	11.37	16.64	20.29	24.19
$  Change -	+0.00	+0.00	+0.10	+0.26	+0.14
% Change -	+0.00%	+0.00%	+0.60%	+1.30%	+0.58%
	L2040	L2030	L2020	L2010	L Income
	18.08	17.20	16.39	15.09	13.11
$  Change -	+0.11	+0.09	+0.08	+0.04	+0.02
% Change -	+0.61%	+0.53%	+0.49%	+0.27%	+0.15%

The Dow had a similar chart pattern but it did breakout to the upside.  That sounds promising for the S&P but the Dow has been on fire with some very specific strength in a few of the 30 stocks in the Dow.  Since the S&P, Nasdaq and the NYSE (which is in the same situation as the other two) are much larger indices, it takes a little longer to steer them.

I'm not saying the market stalls here, I am just saying we are up against resistance again.

Sell in May and go away.  That's the mantra for those who follow the strong / weak six month period trend.  So far May has done pretty well, but I'm not so sure why that seemed to surprise some folks on TV who are saying the mantra.  After all we know that the first three days in May are very strong historically, before things get tougher.  Today is day three.

                             Chart provided courtesy of www.sentimentrader.com

The very short-term indicators (intraday) are overbought and that has led to weakness in the days ahead, but for the most part, the day to day short-term indicators aren't much help as none are in extreme territory.  The NYSE is overbought, but not by much.  The OEX put / call ratio is slightly bearish but not by much.  The market could continue moving higher for months, or turn around today.  Who knows?  The money is being made in stocks right now but the odds of a pullback are rising each day.  I hope you are playing better than I have.

Trader Fred's TSP Trader System is now back in the G fund after yesterday's interfund transfer.  Read Fred's current commentary on the system page.