Market Outlook – 03/29/18 – Brandon Van Zee
The S&P 500® rose 1.38% today, capping a volatile week of trading. Today was the final session of the 1st quarter and it’s noteworthy that the S&P 500 broke a 9 quarter win streak. All four major U.S. indices have bearish intermediate postures and are also exhibiting 3 Red Arrow signals. While today was lead higher by several cyclical areas, the intermediate postures on all sectors except for Utilities, Real Estate, and Energy remain bearish, which suggest traders remain cautionary. The semiconductor industry has been underperforming the Technology sector and broad market this week.