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March Was A Month Of Ups And Downs

Jeremy Lutz - MarketClub

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Hello traders everywhere. March was a month of weekly ups and downs with two weeks to the positive and two weeks to the negative, but at the end of the month, the stock market will end in positive territory with the exception of the DOW. In fact, it will close out a strong first quarter to start the year. 

Both the NASDAQ and S&P 500 will post monthly gains for +2.4% and +1.5% respectively, meanwhile, the Dow will post a monthly loss of -.3%. On a quarterly level, all the indexes will post gains for the first quarter of 2019. The S&P 500 checks in with a gain of +12%, the Dow +10%, and the NASDAQ will post the biggest quarterly gain of +16%. Quite a start to the year. 

After starting off the year slowly losing -.49% in January the U.S. dollar bounced back with consecutive monthly wins gaining +.90% in March. The two winning months pushed the dollar to +1.1% gains for the first quarter of 2019.

Crude oil just continues to impress, oil posted a monthly gain of +4% for March. That gain may be the smallest monthly gain of the year for oil, but it helped finish off the quarter strong with oil posting a quarterly gain of +27%! Yes, +27%. I'm sure the oil traders are pumped right now. 

It shouldn't be a shock that gold has suffered this month as it's often used as a haven when the stock market is headed lower. Gold had back to back losing months to close out the quarter and posting a monthly gain of +2.49% in January. However, despite two losing months gold did squeeze out a quarterly gain of +.56%.

Not to be forgotten, even though it seems like it's not a topic of discussion any longer is Bitcoin. It's trying to mount a comeback by posting a monthly gain of +7.2% and quarterly gain of +10% trading steadily above the $4,000 level.

Key Levels To Watch Next Week:
S&P 500 (CME:SP500): 2,747.61
Dow (INDEX:DJI): 26,109.68
NASDAQ (NASDAQ:COMP): 7,442.40
U.S. Dollar (ICE:DX): 97.45
Gold (NYMEX_GC.J19): 1,310.10
Crude Oil (NYMEX:CL.J19): 59.07
Bitcoin (BITCOIN:BITSTAMPUSD): 4,190.00 

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