Week of 03/27-03/31 Bull run takes over as bank worries ease

The market surged this week and closed near the weekly high as inflation as well as the bank system collapse worries ease. SPY closed Friday just shy of 410 points as it broke its previous resistance at the 400 level and triggering buy signals to a beginning of a bull run. Investor's worries have lowered as banks restructure and the government steps in to secure deposits of the latest failing banks. Inflation is still in play but the major speculation is that the Federal Reserve will announce a stop to raising interest rates in their next meeting. We are closing the month as well as the first quarter of the year on a good note with the PCE (Personal Consumption Expenditures) price index report coming in lower than expected. This is one of the many reports that help identify where inflation is headed month over month. Overall, tech stocks took the lead on this latest surge but other stocks did not fall behind as 70% of stocks in the market ended up the week green. Most of the bull runs in the past two years have failed and turned around to make deeper lows. It is going to be an interesting start to a second quarter as we navigate thought the next wave of volatility in the stock market.