The S&P 500 Index jumped another 1.23% higher on Tuesday. This remarkably consistent move has resulted in 9 positive performances over 11 days.
Apple (AAPL) has been a key driver within the S&P 500’s move, as the world’s largest publicly traded company has been up 11 days in a row.
Another fun fact — Every Real Estate and Utility stock in the S&P 500 finished higher. And almost all Discretionary and Technology stocks did as well.
The VIX Volatility Index closed below 20 just a few short weeks after it stayed persistently above 30 for a surprising amount of time.
All four major stock market indices have a strongly bullish posture; they are also all trading above their 30-day moving averages.
The Russell 2000 was Tuesday’s winner (+2.65%); it finished with an overbought cluster signal (not necessarily bad at the beginning of a trend). The NASDAQ Composite (+1.84%) had its highest close since mid-January, while the Dow Jones Industrials (+0.97%) lagged due to higher exposure to Energy & Financials.
The U.S. 10-Year Treasury yield fell to 2.40%, but it remains entrenched in a significant uptrend and is near multi-year highs. Long Term U.S. Treasuries rallied 0.76% and High Yield Bonds were up 1.23%
Bitcoin continues to impress. It broke out of a multi-month sideways trend yesterday and was able to hold the line today around $47,000.
Both Oil and Gold gapped lower to start the day but then rallied to close positive; neither has a bullish intermediate posture at the moment
The only sector that fell into the red today was Energy (-0.26%), but it remains atop the Sector Selector for the 12th straight week. Real Estate was Tuesday’s standout sector with an advance of 2.93%; Technology was up by 2.12%.
Our trade application example featured a bullish swing trade on T-Mobile (TMUS) due to its Near-Term and Intermediate postures being bullish, along with the fact that it is bouncing up and off its rising 30 day moving average
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Stock Market Outlook Video (for March 30) – News and Analysis
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