MomentumOptionsTrading.com Morning Update for 5/1/14
Another Mixed Month
April ended with a split with the bulls and bears each getting half the market pie. The bullish camp finished with wins in the blue-chips and broader market while the bearish team won the Tech and small-cap fights. Today marks May’s first session of trading that promises to be interesting along with the entire month as both sides continue to try to break out of the yearlong trading range.
The Dow added 45 points, or 0.3%, to finish at 16,580. The blue-chips traded down to 16,510 before reaching a high of 16,592 and staying within the 16,500-16,600 zone we have been highlighting.