Seasonal Bullishness Kicks In

May 31, 2006 · Print This Article

Sorry guys I have to keep it short tonight.

The bulls are hoping today’s performance was a positive sign going forward. They might be right, but I think after the seasonal bullishness wares off on Friday, we could see some sloppy trading for a few weeks with the Bears having a slight edge. A test of the recent lows would not be out of the ordinary. After that, well, could it be another summer of range bound trading? Many seem to think so. There is still lots of uncertainty surrounding, inflation, geopolitical , etc., but unless some of these issues are resolved I would not be surprised to see a new trading range carved out this summer.

RSI Wilder (5) for May 31, 2006