March settles negative

 

Summary 

The SPX saw a net March gain of +156pts (3.6%) to 4530. Whilst this was a bullish monthly settlement back above the 10MA, momentum still weakened, settling fractionally negative. In theory, momentum should continue to weaken across the spring and into the summer.

Sustainably negative

 

 

Summary

Suffice to note, monthly equity momentum in the SPX has turned back to negative, and should remain sustainably so into April.

Back to positive

 

Suffice to note, monthly momentum has turned back to positive. However, as of March 1st, it will be SUSTAINABLY negative... probably for at least 3-4 months.