Friday 29 March 2024

A fifth month higher




The SPX climbed for a fifth consecutive month, net higher for March by +158pts (3.1%) to 5254, having printed a new historic high of 5264. The monthly settlement was above the key 10MA (4656), as the m/t trend remains bullish.

Momentum ticked upward for a fifth month, settling on the high side. S/t bullish into April. M/t bullish from the Oct'2022 low. The latter arguably only changes if a monthly settlement back under the key 10MA, which will be in the 4700s in April.

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