The market is showing no ill effects from weakness at the beginning of March. After a gap down and a small 5 point dip, the dip buyers woke up. It looks as though we will erase the large drop earlier this month before it ends and, conveniently, before the quarter ends without any help from the financials. Market is also showing a lot of optimism toward Friday’s nonfarm payrolls report and a gradually improving jobs market. A lot of stocks are being walked up on mediocre volume, which suggests that big funds want to make sure that their key holdings finish the quarter strongly. I am also reading that there are some hot IPOS pricing this week so more incentives to prop up the market. We are very close to the top of the trading range. As much as I would like to see a small dip, I am also keeping an open mind on more upside into a strong beginning to April. A break of the range could attract more money to chase the markets at the beginning of the second quarter. Who wants to be behind to start the quarter?
