On Friday markets logged a third day of gains and capped off one of the best weeks in years.
This morning futures are down but not enough to be concerned about.
The war in Ukraine is in its fourth week. According to a Wall Street Journal report, Russia is seeking to hold the ground it captured and start moving towards ending the conflict.
Oil prices remain very high, trading near $110 per barrel.
In unrelated news, a Boeing (BA) 737 crashed in southern China.
The bulls are back in town as the chart below shows…
The chart is the SPY. The arrow marks the breakout, the three candles circled are a textbook “advancing white soldiers” bullish pattern.
While this pattern is not particularly great for trading off of … it shows the direction the market wants to go.
The timing couldn’t get much better either…
It’s the first full day of spring and the last full week of trading in March.
The FOMC, the rate hike, and the triple witching are behind us. And April is ahead…
The week after triple witching has performed quite well in the past. There could be some dip-buying opportunities…
April is traditionally the best month for large caps in the S&P 500 and Dow Jones.
I’m generally bullish, but focusing on individual stocks right now…
*AVGR is on watch
^*SGLY has support at $8
IMXI is on watch
EIGR has resistance at $8
^HDSN has support at $6
VYGR has support at $7
SPTN has support at $33
TMST has support at $20
APLS has support at $50
GLNG has support at $20
FLR has resistance at $29