AA/bonds - Investors who hold nerve can ride fifth wave of long-term bull/bear pattern

"Sell in May and go away" is an oldadage suggesting it is time to bank profits and exit stage left f...

"Sell in May and go away" is an oldadage suggesting it is time to bank profits and exit stage left from this buoyant equity market. However, market technicians would argue against, pointing to the fact we have begun the fifth upward phase of a classic Elliott wave pattern. Accordingly, this will take the US, UK and Europe through to new highs before the pattern is exhausted and a bear market commences. So on what do these technical analysts base such confident predictions? The wave principle begins with the premise that collective investor psychology moves from optimism to pessimism and b...