March 27th 2022 |
- No need to change our strategic bullish outlook for the S&P 500 from January 20th.
- Quality of the current short-term oriented uptrend looks quite high.
- Sentiment is giving no reason to worry right now.
Market Review |
U.S. stocks finished in positive territory with all three major averages notching second consecutive winning weeks. The Dow Jones Industrial Average posted a weekly increase of 0.3% to finish at 34,861.24. The S&P 500 gained 1.8% for the five days to 4,543.06. The Nasdaq rallied nearly 2% during the week to 14,169.30. Nearly all key S&P sectors ended in positive territory for the week, led by the energy sector. Health care was the only decliner. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded around 20.8.