Next post: June 7


I am taking a   vacation and will return to post on June 7.   The market is in a post-earnings release period and probably will not make a major move until sometime in July when 2nd quarter earnings are released. We do often have a shake-out decline just before the earnings period so we may have some weakness in late June.   No one knows what will happen, however.   If we get a major move, I will try to post during this period.   It would take a lot of deterioration, however,   to create a GMI sell signal. The market remains in a powerful up-trend, as this weekly chart of the SPY shows. It has successfully broken through its green line top. Major support for the SPY is way back around the green line or at 150 (red line, 30 week average). Have a great two weeks!


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