My High Growth Stock (HGS) summary chart peaked the first week of January and has been sliding since. The largest drop was last week. This is a predictive indicator as traders and investors exit high growth stocks after a run up in this bull cycle when they feel there is no or limited upside over the coming months. It leads by weeks or sometime months.

My chart of Industry Group Average Scores is a reliable indicator of where the market is, specifically if it is in overbought or oversold territory. On April 12th it busted up through the 70 level for only the third time in the past two and one half years, a clear sign the next move would be down. Since it peaked on April 19th it has been heading south.

My Diamond Jim market timer is always the last indicator to turn. It has been on a buy since January 29th and is still pointing north.

Next week is May, also known to some as the Sell in May and go away month for investors.

Over the past three weeks I have been lightening up on positions and selling calls. If you decide to hold here, have your Nikes on.