Today, in my opinion, marks the first day that price action has favored the bulls. Bears now face two choices: either join the buying momentum, which could drive the market higher, or attempt to reverse the consolidation that began between March 11 and March 14.
Of course, no one knows with certainty what will happen. Clients and myself will sleep a bit better if we trade higher. On the other hand, this is a great environment for alternative funds to proof its value.
Alternatively, there’s potential for an upward move to at least reach the moving averages.
This chart, from the S&P 500, (https://bit.ly/BlueOrbitMario) will show you as of the close of Friday, -4.8% for the month and -3.6% for the year monthly and the PE ration moving higher following the price.
YTD from Key Assets
“Subscribe to my blog and social media.” Thanks for your comments and support!
