Market Overview

Thursday, 31 March 2011 11:47

US stocks rose, the S&P500 1Q rally is the largest since 1998, and the recent rebound to near year highs has everyone suggesting it is recovery time. Yet there has been a drop in volatitily and this tells you that there is no conviction.

The real driver recently has been quarter ending window dressing.

April Fools Day should be an interesting one, on that basis and from a technical basis there are more than a few SELL signals flashing for key markets, currencis & commodities.

Treasuries climbed after an auction of seven-year notes, while oil slipped following an increase in inventories.