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The popular averages closed to the upside on Thursday. The stock market will be closed on Friday.


   Above is our 3-month chart of the S&P 500 exchange traded fund (SPY). Following the December plunge, the surpassing of the SPY’s 50-day moving average on January 18 with increased trading volume was most welcome. Since February 15 the SPY has generally remained above its 200-day moving average. However concern last month about a yield curve inversion led to a stumble. It’s been largely forgotten that early in the 20th century the yield curve was regularly inverted amid low inflation, technological innovations and rising stock prices.


   On April 1 the SPY’s 50-day MA pushed above its 200-day MA, a positive technical signal. However the dwindling trading volume, wobbly price action and advent of the traditionally sluggish half-year for the stock market have turned our outlook cautious.















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© Curt Renz

  Stock Market Update

DISCLAIMER: Our commentaries are provided as general information and not investment recommendations. You are responsible for your own investment decisions. Our opinions are based on historical research and data believed to be reliable. There is no guarantee that results will be profitable. We are not responsible for errors or omissions. We may hold positions in vehicles that are mentioned.

Updated following  each market day

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