Vanguard FTSE Developed Markets ETF (VEA)
The ETF is sitting just below the $42 – $42.30 level that has acted as resistance on numerous occasions in the past four months. A sustained break above this level would signal an all-clear for the markets and indicate that the Sell-in-May mantra might not necessarily work in 2014.
But at the same time, the ETF is just a few percentage points away from its 200-day moving average and lower trendline. The direction VEA ultimately breaks could go a long way toward telling traders what may happen next.