Market Updates

Thursday, May 5th, 2016

Our technical indicators are suggesting caution on a short term basis. After a 15% rally from the February bottom, the S&P 500 is now up against overhead resistance. While buying the dips has been a successful strategy the last few months, I would not be so aggressive here. Allow the market time to digest its most recent move. That activity should provide guidance as to which direction the next major move will be in.