Market Direction Week of April 2, 2018©

Market Direction:BULLISH alert issued 2/15/2018

Stock on the Radar (STAR)© was launched 6/19/2017 Sunday evening. When there is a new stock recommendations for the week it is typically made available late Sunday, so investors can prepare to take a position when the market opens Monday for trading. 

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Last Week Review: Stocks rose by more than 2% in another volatile week where the S&P 500 moved by more than 1.5% on three of the four trading days of the holiday-shortened week. Investor sentiment continues to swing between optimism and pessimism as new information regarding global trade, monetary policy, and the technology sector is released.

Stocks recovered a portion of the previous week’s steep losses and recorded solid gains. The week was notable for a sell-off in high-valuation technology companies, however, which caused the Nasdaq Composite to lag the other benchmarks. A steep drop in Amazon.com caused the consumer discretionary sector to join technology and energy stocks among the week’s laggards in the Standard & Poor’s 500 Index. Typically defensive consumer staples stocks performed well, on the other hand, as did real estate and utilities shares, whose heavy dividends became more attractive as long-term bond yields decreased. The market was closed on March 30 for the Good Friday holiday.

How the market finished last week, the S&P 500 up 2.0%, the Nasdaq up 1.0%, and the Dow up 2.4%.

This Week: Important economic data is plentiful next week, with Markit's Purchasing Managers Index on Monday, vehicle sales on Tuesday, and the all-important jobs report on Friday.

The first three months of the year have made for a more thrilling stock market, but if you’re invested for the long run, you shouldn’t stress about the events of one day, one week or even one month. Trying to time swings in the market based on short-term disruptions is difficult to do successfully, even for professionals.

And the outlook still looks positive for U.S. stocks, as folks on Wall Street don’t see the current bull market ending anytime soon. Based on analysts’ target prices for all stocks in this index, the S&P 500 could climb past 3,000 this year, according to data compiled in early March by DataTrek Research. That’s a 17% increase from the current level.

Meanwhile, the recent bout of market volatility hasn’t resulted in more bearish sentiment. About 35% of individual investors expect stock prices to fall in the next six months, according to a weekly sentiment survey conducted by the American Association of Individual Investors. That’s about on par with levels seen in November and December, when stocks still were setting record highs.

Economic Calendar: PMI Manufacturing Index (4/2), ISM Mfg Index (4/2), Factory Orders (4/4), International Trade (4/5), Employment Report (4/6)

Some of the major earnings announcements on deck: LEN, AYI, MON, KMX, OLLI.

$tockMarketDirection proprietary model is currently BULLISH. We strongly encourage you to monitor positions closely, exercise proper money management strategies and follow us at $tockMarketDirection for ALERTS we may issue advising a change in the current market direction. Stay tuned and follow us. If you have a testimonial or comment of how this website has helped you we would like to know, email us. Share with a friend. Cha-ching.

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