Week of 04/03-04/07 Markets mixed on short week, Good Friday

Economic news and market sentiment was mixed this week as the number of jobless claims rose, reaching the number of job openings to its low of two years. Monday, the week started off really well with the SPY surging to 411 points as a continuation to last weeks positive momentum. Tuesday was the worst day of the week since all the market indexes lost value in every sector and giving back Monday's gains. Wednesday we saw a stop to a further market decline and Thursday we finally saw a surge in the market to bring back levels to around flat for the week. There seems to be volatility in the market, but overall we seem to be in a consolidation in which the range may be triggering stop losses from either bulls or bears. We saw the market break the SPY 400-point resistance and it seems to be holding those levels fairly well. The next resistance for the SPY is around the 418 point level, as this is where we peaked on the last market surge this year in early February. Next week the market sentiment might shift as we have the results for the core CPI and PPI reports for March. These reports are used as an indication of where inflation levels are at and how the federal reserve might proceed regarding further interest rate hikes.