Our final zoomed-out 30-minute SPY look for the month of May leaves us with many questions. We have plenty more macro data coming out tomorrow, and the European banks and member nations are likely to dominate the news flow over the weekend. Technically, the market has been flopping around in a neutral manner over the past two weeks, after an initial steep downdraft. Sentiment seems to be tilted towards hope for a relief rally here, but there are too many moving parts with this market for me to have conviction either way, which is why I have moved to the sidelines and am staying objective.
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Back after the bell with my video recap…
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