Whew, I'll be glad to see April end. Will the old saying "Sell in May and go away" hold true? The S&P500 has bumped back above the 90% mark of stocks over their 50 day moving average. Yet, the insane market continues higher. This is rare even in a bull market. The punch drunk bulls are determined to hold this market up. Everyone knows nothing goes up forever and when the market turns several bulls will get a reality check.

Until then, tomorrow looks like it will probably be another flat dull day with some upside movement potential. If bulls do intend to sell in May a few of them might try to get out early causing a possible reversal late in the day. Then again, a crushing claims number may cause a few bulls to hit the exits early.

The Dow, SP500 and Nasdaq are all showing a rounded top forming on the 60 minute charts. The Nasdaq seems to be lagging some and may still need to move a little higher before the curve rolls over.

I think the top may have been put in a little over a week ago at 875. The last of the bulls are still making their way into their doomed positions and the market slowly but surely is inching it's way down. Could we get a huge down day soon? Maybe so, but don't be surprised if this slow sideways progress continues. The drop will probably happen when even the bears least expect it.