May saw its fourth consecutive down week, leaving the S&P 500 (SPY) roughly -0.1% in the red. Save the US Dollar (UUP), a handful of equity and commodity ETFs nevertheless pushed into early overbought status. In the upcoming holiday shortened week, equities will have to overcome these conditions, as well as confront the top of their month-long down channel to register typically positive turn-of-month seasonality. [Week 22 Economic Calendar]
Source: ETF Rewind Pro subscription service; prior weekly posts.
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