I will be more confident of this new QQQ short term down-trend if it can last two more days. I remain in cash and short gold in my trading accounts and invested long in mutual funds in my university pension. After earnings are out, we approach the dreaded, “Sell in May and Go Away,” period. This monthly chart of the SPY suggests to me that since 2005, in periods when the market had been rising for months leading up to May (like the present), with the exception of the strong rebound from the decline of 2008, the market has stumbled in the period after May. What do you see? Click on chart to enlarge.