April brought the first real bump in volatility for the year. However, last week equities put in a steady incline, closing up nicely on the week for roughly a breakeven monthly performance. In fact, nearly all asset classes performed well last week, with the S&P 500 (SPY) higher by +1.8%.
The caveat being (isn’t there almost always one?), that the major sectors are now broadly short-term overbought. While it’s still early in the upthrust, a retrace might therefore be expected at some point during the week ahead.
[Week 18 Calendars: Economic | Reporting]
Source: Mrkt_Commentary** subscription service; prior weekly posts.
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