Biggest market gains of 2021?
This is what was being reported during yesterday's snap-back rally, but that isn't really saying much... it's just a lot of hype.
As I've already pointed out in previous updates, March is a window dressing month, and the important thing to watch is the moving averages, which continue to be bought. It's that simple...
$SPX tests the 50 day moving average, breaks out above 3870: Bullish trend remains intact.
$VIX was smashed back below 25. I've pointed to this level in several previous updates, and it's one to keep watching.
Several sectors including the $SOX were driven back above the 20 day ma., at yesterday's open. I suspect the machines have been programmed to buy such breakouts, and that's why this level continues to be taken out, but I don't really know... I only started noticing this phenomenon, over the past few months, while tracking stocks on my mobile device.
$SOX - the bid on the $SOX is raised above the 20 day. Suspected program trading. Short term trend remains down.
So, we're back to where we started, and seeing mixed markets. It's rather boring.
I'd much rather be a seller of commodities, like Platinum, Oil, Corn, and Soybeans, than trading either side of the rigged equity markets.
Good luck, AA
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