we are leaving the 2000 area behind us and we are only 3% lower than all times high since May 2015
Hi Traders, the S&P 500 gained 1.8% last week finishing March up by 6.5% and starting a very green April. Two factors helped the market. The first one is the March employment report, published on Friday, which came out good. The second reason is the quarterly "window dressing" period where the institutional traders wanted to hold the market up and tried to display positive returns. So we finished a very nice March and very good start of April. April is usually a positive month, on average up by 1.41%, 70% of the years since 1945, however, this month the game may be different for two reasons: a possible pullback after the strong move on March, and low expectations from the soon to be published quarterly earnings reports. One more factor: on Wednesday we have the Fed protocols, which may move the markets.Let's take a technical view of the market. As we can see the S&P 500 is moving higher, we are leaving the 2000 area behind us and we are only 3% lower than all times high since May 2015. It will be very interesting to see whether the market can trend over this all times high, however if we take a look at the weekly, we are still downtrading.
Let's look at the last week's picks. We've been following Estée Lauder
Let's see my next week's picks. My first pick is Altria Group
I wish you a great trading week and see you next week.