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March Market Rebound Likely To Cool Further

Essentially right on seasonal cue, the market found firmer footing in March. As of today’s close DJIA is up 1.37% in March. S&P 500 is higher by 1.88%, NASDAQ has risen 1.24% while the Russell 2000 is modestly higher at 0.20%. Today’s retreat did trim gains this month, but the surge off of mid-month lows remains impressive. NASDAQ was down 8.51% on March 14. From that low point through yesterday’s close, NASDAQ leap an impressive 12.14% in just six trading sessions. Looking at March’s average performance over the most recent 21-year period above, some back and fill over the remainder of this week and through the end of the month is likely. Major indexes are now comfortably above typical gains at this time of March and all except Russell 2000 are above average full-month performance.

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