As May comes to a close on Tuesday the charts remain bullish. In the last post I mentioned a similarity with 2014 when we had a May expiration low that led to the market creeping up into September's 2019 high. This isn't looking much different at the moment but that could actually change quickly as long as the 2105ish area holds. I haven't taken the time to look into the charts very deep. The weekend became tediously busy for me. What I do know is that the line I track for FOMC has broken out upwards. This doesn't come back without a solid test of of 2080ish and if that breaks we can start looking lower again.
It took nearly a full month to correct some 85 points and now in a week or so we are nearly back to that level. The 2100-2110 area is the last resort for the bears to gain any kind of control if a weak summer is going to present itself. If we fail to correct during the upcoming week I cannot find a reason not to hunt the 2200+ numbers that had been tossed about previously. This market is obviously of a one track mind out to put a legacy on an administration that has turned America into fools. I don't have the energy required today for me to put on a good ramble.
Stay with the tape til it turns and Keep 'em Green.