When you are in grave and imminent danger and you require immediate assistance, you should use the international distress signal “Mayday! Mayday! Mayday!” That’s how I feel right now and in honor of the day for which it was named, it seems appropriate for a May 1st. And I am not making this call to save myself, it’s meant to help out investors who are blinded by the sunshine as they approach headfirst into a gathering storm. As usually happens at market turns, I write a post like this and am told that I just don’t get it and I am obviously not watching the same market as everyone else. My track record in signal performance and timing of market turns speaks for itself - just judge the HEDGEfolios Timing Indicator and my posts over the past year.

This week, I gave 521 new DOWN signals versus 37 new UP signals and the HEDGEfolios Timing Indicator reversed from a strong bullish bias to a marginal bearish bias in one week.  Hence, “Mayday! Mayday! Mayday!”