Before I start drinking and eating today, I thought I’d look at the weekly market activity. While all the indexes had a miserable month, the week was a recovery week for all but the Dow. Here’s the Dow weekly chart. Still not bad. It had a poke-thru the 50ma but closed above it.
The S&P 500 had a green week and may have found some support at the 50ma. Notice both the Dow and S&P hit their 200 weekly moving average at the end of April before moving down the month of May to visit the 50ma. 
The Nasdaq is trying to hold above its 200ma and may just stumble along here, unless of course it would like to lead the way up.
The Russell 2000 closed below its 200ma, but so far it’s just a poke through if it can come right back up this week.
Both the Russell and Nasdaq may have tested their 50 week moving averages. Let’s hope it’s a successful test! Now back to the festivities. 
Sometimes, entranced by the screens, watching equities, options and futures change colors, charts moving in a wave, and indicators pointing in every direction, I just have to scream....
