Sell in May and go away?

DJ Resistance:  16.631    All-time high

DJ Support:       16.352    50 Days Moving Average
                           16.312    Strong April's low
                           16.174    November's peak
                           16.015    Strong

Technical Analysis:
DJ challenged the all-time closing high and touched DJ16.620 but not the all-time high DJ16.631. DJIA is still in the range DJ16.015 - 16.631and still looking for the upside. What it has done is very constructive.
DJ has to be over DJ16.352 (50 days MA) and DJ16.312 (April's low) supports to maintain this challenge.


Fundamentals:
The first quarter GDP was extremely weak if we compare with the last two quarters of 2013. I attribute that to the bad weather and to confirm it we have to focus on April data.
- Non-farm payroll to 288.000
- Unemployment rate to 6.3%
- ISM Services is up to 55.2 from 53.1
- New orders to 58.2
- ISM Manufacturing to 54.9 from 53.7
All these news drive us to think that the U.S.economy is improving. We will face important economic news in the next three days. May came and this and the next week are fundamentals to see new highs soon.
I feel myself comfortable with the upside bias but I worry about momentum.
Dear traders and investors, the two first supports should work well, if that, we'll see new attempts to the highs soon.

Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!

Ulises