Moving Averages of the Ivy Portfolio and S&P 500: May 2026

The article reviews month-end moving-average signals for the S&P 500 and the Ivy Portfolio. At the close of May the S&P 500 hit a record high and finished the month well above its moving averages — 10.1% above the 10-month SMA, 11.8% above the 12-month SMA and 10.5% above the 10-month EMA — producing consecutive ‘invest’ signals and a bullish technical backdrop. The Ivy Portfolio’s five ETFs (domestic and international equities, bonds, real estate, commodities) also remained above their 10- and 12-month SMAs, keeping the portfolio fully invested; IEF was within 2% of its 12-month SMA. The piece emphasizes moving-average strategies as a risk-management tool that reduces drawdowns while potentially lagging tops/bottoms and notes implementation caveats (dividends, tax efficiency).