The New CS Board

[dww10063]

Second years after extreme breadth lows. Since I'm limited to four charts, I'm only showing price charts. Usual interpretations apply. The fourth chart I consider an aberration not fitting usual 4-5 year cycles, so that leaves only two charts since 2001 as precedents. In any case, market behavior after a Feb-Mar dip tends to be mixed with a safer bottom typically ahead in Aug-Sept, not surprising for Spring-Summer market behavior. I suspect this year the "sell in May" adage may play out. Best, Don