Sell In May Second Best Month of the Year

on May 29, 2015

Next week’s economic calendar is BUSY, it, includes 23 separate economic reports, 9 T-bill or T-bond Auctions or announcements, 5 Federal Reserve Banks presidents speaking, International Trade on Wednesday and the May Jobs report on Friday.

Mondays – The first day of June, and the first trading day of the new month, starts out with Personal Income and Outlays, Eric Rosengren speaking from the Fed, PMI Manufacturing Index, ISM Mfg Index, Construction Spending, and the Gallup US Consumer Spending Measure.

Oil shot back up to 60.70 / Oil is up 40% in the last two months, but global oil reserves are still high.

For the month, the Dow is up 1.6% through Thursday’s close. The S&P 500 is up 1.7%.
Dax DOWN 2.3% International Monetary Fund Managing Director Christine Lagarde said in a German newspaper interview that a Greek exit from the euro is a possibility, contradicting comments from European Central Bank officials. The Greek government, meanwhile, said Thursday that it aims to have a deal in place to secure fresh financing by Sunday.

Who knows? All this chop going into the month end, I bet they rip higher Sunday night and Monday..

This is some crazy stuff we are dealing with!

High: 2118.00 On the open
Low: 2102.50 Mid-Morning
Last: 2108.20 Down 13.5 Handles
Volume: 1.45 Mil ESM and, 4K SPM traded in the pit.
MOC: MiM showed $200mil to buy, and flipped to -$700mil for sale.