I’ll tell you how, you stupid bastards. It goes lower. That’s what it does.
Down, miserably, in 5 of the last 6 years. You might be saying to yourself “self, but, it was up nicely last year, so it might do it again.” However, what you should consider is the fact that the market moved LOWER in May of last year by 6%. Therefore, the move higher in June was nothing more than a bounce.
Let it be noted, this year, the SPY closed up by more than 2% for May–leaving it naked for abuse in the showers by junior traders on Wall Street (extra homo).
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