Market has a bid in it. (Overnight market has moved a little higher)
Today could be a good day, to watch and observe.
Market Review:
Last Week of the First Quarter
An open this week of 4008.00 shows us a market that is fighting to stay higher. Last week's high, after the FOMC announcement was 4073.75. Above that level, the market may focus on the January high of 4109.25. We have been above that level, so don't expect much resistance, but a rally could stall around that area as if it had reached a target.
On the short side of the market, the range between the open of the quarter 3895.00, and the open of the month 3968.50, should be the contested ground this week. However, as the bulls have decided to push higher, and away from making this a contest, the bears may just have to wait, unless the market starts falling, and enters that contested range.
Over 70% of stocks track with the S&P 500 Futures
Major Events:
Mar 28 Consumer Confidence
Mar 31 Core PCE
Apr 3 ISM Manufacturing PMI
Apr 4 JOLTS Job Openings
Apr 5 ADP Employment
Key Numbers Opens: Above or Below
4085.75 was the open of Feb 2023
4008.00 is the open of the Week
3968.50 is the open of the Month
3963.75was the open of last Week
3895.00 is the open of 2023
What's Hot and Not!
Gold and Bank Stocks
During last night's session we covered some bank stocks to keep an eye on. We also discussed opportunities in gold. If you missed last night's session, or if you simply want to review, the link can be found here: https://vimeo.com/811863918/949a5877fb
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