Believe in what you see, not what you believe. The line of least resistance is still to the upside, but remember that markets look best at their highs and worst at their lows.

April is historically a great month for the stock market.

Over the past two decades, from 2000 to 2020, April has been the best month of the year with an average return of 2.5% and a positive return 80% of the time.

The SP-500 support now at 3870 area.

XLE

 

Today's price action looks like the beginning of the end of a long run.

Bullish seasonality for Nasdaq starting this week.

Early on in this morning's session we have a QQQ bounce coinciding with bullish seasonality but especially in conjunction with rates on the 10-Year Note relaxing. While the inverse correlation between rates and the Nasdaq may very well be overhyped (for now), it is also worth nothing that the trade may be a self-fulfilling prophecy at this point given how many eyes are watching the dynamic between the two markets. 

As a result, some of the best movers so far are in the Nasdaq. TSLA and SPLK are just two examples. And some beaten-down former monsters like OKTA and ZM are developing near-term potential double-bottoms on their daily charts.