Stocks Spike Back to the Front
A huge down month for stocks in January was followed by a big rebound in February, and now it’s March, and the first two trading days of the month were reminiscent of the first two months. Equities got slammed on Monday after tensions flared up in the Ukraine. Then on Tuesday, the market rebounded mightily as those tensions were dialed down several notches.
The result of the action in the markets on Tuesday brought stocks back up to new all-time highs, with the S&P 500 closing at a record high of 1,873.91. The index now is way back above its 50-day moving average, a mark it fell below in mid-January. The broad measure of the domestic equity market remains firmly ensconced above the 200-day moving average.
Read more about how the market action of 2014 so far points to future performance at Eagle Daily Investor.