Sell in May and go away... Seems like it is a mixed myth and fact throughout all these years. Will this myth continue to happen in this year? First, let's look at the FBMKLCI monthly chart and try to correlate...
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| FBMKLCI Monthly Chart |
From the past year statistics, 2013's May shows a bullish month. 2014's May show a doji with thin body and long tails. For 2015's May, it is a big bearish engulfing which in the following months drag down the FBMKLCI to the lowest of 1503.68 in August 2015. In my previous post[3], i still remember for the month of March, there is a bullish engulfing, and this month April it forms a bearish engulfing. The market is totally unpredictable.
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