The ASX200 had a fairly quiet end to May as yet again it failed to push through its trend line resistance which has contained the markets advance since November of 2020. Ultimately local stocks reversed early gains to close down -0.25% with only the Healthcare & Gold sectors contributing any noticeable support. Even Commonwealth Bank (CBA) closed lower after posting a fresh all-time high at $101.50 – I’ll go out on a small limb here and call CBA to retrace ~5% from yesterday’s high, a point of interest no more as we remain bullish.