March 2023 Upticks Array ( [cookie] => 036ab8-6547a6-cf8512-7b95b8-269f28 [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 1 [subscriber] => 0 [role] => fsi_macro [visitor_id] => 591084 [reason] => [method] => ) 1
Note: This Upticks report will be in replace of my Daily Technical Strategy piece today (3/31/2023).
Update
Happy Spring, and the Bull is Back??!! 1st Quarter 2023 has come to a close with SPX having achieved the highest monthly close since last July! Technology has certainly been the standout in this regard and its outperformance has catapulted Tech to the top of the sector performance returns over the last one-week, one-month and 1st quarter periods. While the recent banking crisis has resulted in an exodus out of banking stocks, the US stock market has certainly proved to be far more resilient than most have given it credit for in recent weeks. Now US markets finalize Q1 with a stellar comeback and enter the Second quarter in one of the best historical months for performance all year amidst a sea of ongoing pessimism. While some eventual backing and filling might be necessary as markets near the historically bearish Pre-election month of May, it pays to keep an eye on not only sectors like Technology which have been working, but others like Healthcare and Energy, which are making a comeback.
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Thomas J. Lee
Head of Research
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Daily Technical Strategy Daily commentary on market trends and short term opportunities. |
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FS Insight Research Team
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*Earnings Daily This note provides investors with a myriad of useful metrics to measure the progress of earnings season |
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