Stock Market Trading Outlook: Can Bulls Keep Dancing?

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.

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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

Get market insights, stock trading ideas, and educational instruction over at the Market Scholars website.

Stock Market Outlook Video (for March 30) – News and Analysis

Twitter:  @BrandonVanZee and @MarketScholars

The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.