The May-October Rolling Top Keeps Rolling

The trading range in the S&P 500 which we have outlined numerous times before and where we expect most of the trades to occur during this topping process is 1587 to 1662.  Outlier trades can broaden the range to 1555 to 1690 for short periods.

By October 1st we want to have a fully leveraged short position in stocks and be long gold and T-Bonds.  We will stay neutral now on the dollar.

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