Rolling Top Update
Back on May 6th we spoke of the May – October top that we have seen twice previously in the past 20 years. Based on the S&P 500 which was 1615 then, we have since seen a high of 1710 and a low of 1560, a median value of 1635, and an average close of 1641. Based on those values the market is playing in the top side of the range these days.
We look for the trading range action to continue.