Payne's Perspective: April 4, 2022: Shut Out Negativity
It was another amazing week for the stock market, although not in the most obvious ways. The S&P 500 popped above 4,600, which is the key breakout point. But it couldn’t hold on to the gains, which could have been catastrophic. In fact, Friday’s session might have been the most impressive. Stocks rallied despite spiking treasury yields, and further evidence that the Fed will have to hike rates with reckless abandonment. The index has rebounded off a double bottom and held above the 50 and 200-day moving averages.
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