Transcript:
Tom Vaughan:
Hello, everybody, welcome to Tuesday, a fantastic green shirt today, the S&P 500 was up 1.6%. I think this was the significant day, on the 24th of February, the market hit the low for the year on the morning of the invasion of Ukraine. And then at the very end of March, we had this very big run between those times. And what’s happened since then is we retraced half of that gain. I’ve seen this many times before, where you get down to half, and then the market sometimes will bounce off of that, and then take off again, but of course, not every time. And so what we saw this time was a kind of bouncing off that a few different days. And then today’s move upward, I think makes it more likely that we might see a continuation of that uptrend. And we’ll have to see for follow through on subsequent days here. As far as that goes. It’s no coincidence to me that this is happening during the heavy part of earnings season, we’ve seen that happen quite a few times where earnings start, there’s some excitement, companies are beating expectations, it gets things rolling, it kind of gets some momentum, there are almost 70 S&P 500 companies reporting this week alone. And that’s going to continue throughout this period of time. Not every earnings report will be great. But overall, in the past here, in the last, you know, seven quarters, we’ve beat expectations in a row. So looks like we might be doing that, again. kind of exciting as far as that goes. So really, you know, April has been a good month, also a 15, iOS 16 April’s have been positive. We’re currently negative right now. So good ways to go, you know, for the second half of this month, to kind of get that and the average rate of return has been 3% on the S&P 500 during that period of time. So, you know, we’ll see it’d be nice to get there. Have a nice run here. At the end of the month, we’ll see what happened. So looking forward to kind of watching this especially over the next, you know, week or so and see if we can kind of carry through from the momentum that was established today or not. But nonetheless, the bounce off of that retracement level is somewhat significant in my opinion. So I will be out of town. This next rest of this week, Wednesday, Thursday, Friday. So I’ll be back here on Monday to kind of discuss what we saw so far. So thank you very much for watching. Look forward to talking to you on Monday.