Financial concerns seemed to settle down this week with no more “bank runs” in the news. Credit has reportedly tightened which may help the Fed in their fight against inflation. There was also a bit of encouraging news with the PCE price index report on Friday that showed inflation dropped at a slightly lower rate than was expected.
All this news got the bulls excited and the buying really ramped up as we closed out the first quarter of 2023. Many are still calling for a pullback to last October lows but for now, it still seems the trend is your friend and that trend is up.
Next week is a short trading week with a holiday on Friday. The following week of April 10th, we kick off another earnings season. A lot of poor earnings reports and bad guidance may take the wind out of this market but for now, volatility is very low and buyers are liking the companies with solid earnings and balance sheets such as NVDA and AAPL.
What to Watch for this Week:
Sectors in Play Last Week:
Earnings this week:
Brian (Randy) Pezim is a Canadian trader and investor, with a focus on swing trading equities as well as day trading.