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For those of you who still have skin in the game, from May's Top-11 of Trading Day 12, here's how the remainder of the month played out.

Our current May-2024 Trading Day 12 closed 5.19% MTD which would rank as 2nd best compared with the previous 63 years.

Of the Top-11:

11 of 11 times there was a higher close than trading day 12 to be found.
6 Of 11 times, the month's highest close was within the next 3 days (55% chance higher close).
4 of 11 ...

The stock market took a day off from the recent rally up to new highs in the big three indices, and the Dow temporarily touched 40,000 for the first time ever, but we did see some profit talking as the day wore on, and that's nothing too surprising. The bulls still have the ball in their court and if the bears have any fire power in them, they haven't shown it yet. Bond yields and the dollar had relief rallies, but they may be finding support, which could make or break the rally in stocks depending ...

May Trading Day 11 Closed 5.41% MTD, the 2nd Best Since 1990's 7.10% Trd-Dy-11

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The number of S&P 500 stocks above the 50-Day Moving Average rides at 64%.
The Monthly Highs & Lows highlighted are where the S&P 500 peaked and bottomed.



I would estimate, if there were to be a pullback, the most likely area would be just before or after the Memorial Day weekend. At the same time, while I still ...

The stock and bond markets got another dose of good economic news as the relief of the latest CPI data gave investors another reason to believe that inflation may be under control. It's not falling, but going up less quickly, and that was enough to see new highs in the indices as investors can rule out any new rate hikes, and perhaps increase the chances of a rate cut in June. Bond yields and the dollar dropped sharply and that has been the recipe for a rally in the equities market.
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A late afternoon rally took the indices from slight losses to hefty gains on Tuesday as investors ignored the hotter than expected PPI number to push the S&P 500 closer to its highs for the year, and in the case of the Nasdaq, making new highs. Small caps and the I-fund had good days as yields and the dollar were down - again a surprise given the inflationary data.

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