Friday, 1 May -- Sell in May and Go Away, page-135

What an amazing last week. A huge upwards bias to clean out the shorts and inspire confidence by smashing through all the upper resistance levels. Now its blasted through every thing on the downside to the same trading range it was in before within a day. A lesson for all, whilst the shorts were all in pain 2 days ago, now all the longs are feeling the pain. I suspect max pain will come when it falls back to below 5000, and then it could maybe go up again. To see a 4 in front of the XJO would be concerning for all the longs, and probably suggest capitulation, before any attempt at retesting the highs is given.

I’m still in pain over BBUS, but looks like that might be short lived pain if current futures and trajectory come through.