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Chart Of The Week: 'Buy In May' Is The Play - Citi
The DJIA posted a bullish outside month in April, notes CitiFX Technicals in a note to clients. "This is only the 3rd time that has happened since the 2009 lows (July 2009 and October 2011 being the other two). The S&P barely missed a 4th bullish month since the 2009 lows (Needed to close above 1883.97 and actually closed at 1,883.95) and the 2nd this year (February being a bullish outside month in the S&P)," Citi adds. "In addition the chart of the VXN (volatility of the NASDAQ) suggests that lower levels of volatility and a higher NASDAQ are also in prospect. In addition the VIX (volatility of the S&P) may well ... (full story)
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