The Action to Watch on 5/12
Today marks the end of the seasonally strong period for stock prices. Starting next week, the winds shift bearish. That doesn’t mean stocks are going to start falling right away. But it is going to make it more difficult for the market to rally. The S&P 500 still hasn’t made it up to my 2411 minimum upside target. The index got as high as 2404 this month. Perhaps today will be the day. But the bulls are running out of time. Here in the Market Minute, we take a look at the setups in the broad market and plan for the trading day ahead.