Month ends on a high – Redux
We’ve got a little trend going the last 3 months: the last trading day of a month is the high for the following month! It was also the 4th of 4 straight up days, ending at an interim high!
The market peaked on the final day of trading in April. It traded to the top of a falling trendline on the final day of May. Today’s close is the highest close for the month of June, and once again returns to that falling trendline. The final day of the month is circled in the chart below:
It was better to be a seller than a buyer today, if the last 3 months are any indication of what’s to come.