Saturday, 3 May 2014

Sell in May and come back on St Ledger's Day (September)


SP500
Bulls look for 1900, Bears will be looking for a move and close below 1840. Seasonally May is the time for a market peak by 3rd week at the latest. I am looking for SP500 to trade in the 1850-1900 range with a move into a summer low in July around 1750

FTSE
FTSE is testing 6866 resistance again. A move and spike up to 7000 is possible by mid May. Looking for FTSE to trade in 6500-7000 range in May.

GOLD

Look for Gold to trade between $1280-$1330 this week. Gold is entering the weak summer months, so unless Ukraine explodes in the next few weeks, Gold looks range bound $1250-1350 until August.

Sector Fund Price Daily
Stop
Weekly
Stop
Target When
USASP500 1881 1870 1850 1950 19 May
UKFTSE 6822 6750 6682 6950 19 May
EuropeDAX 9556 9500 9400 10000 19 May
JapanN225 14457 14400 14200 15000 19 May
CommGold 1302 1310 1330 1200 27 Jun

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