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Why it may not be smart to sell in May

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Will investors be selling in May?

As earnings season reaches the halfway mark, the focus is on whether profit growth is good enough to keep the market moving higher—or is it going to be another year to sell in May.

The was up 3 points Thursday at 1,878, but an early rally failed when stocks hit resistance at 1,884. The Dow was literally unchanged at 16,501, the first time in 12 years it registered less than a tenth of a point move in either direction. The Nasdaq, lifted by Apple's 8 percent gain, was up 21 points at 4,148.

Headlines about Russia starting military drills near the Ukraine border took a bite out of stock market gains and drove bond yields lower, as investors sought safety in Treasurys. The 10-year yield was at 2.68 percent.