Coach Mark here.

We are on the last trading day of the first quarter of the year and it was an impressive showing for bulls. Lots of wins in lots of places. The first three months of 2024 were really one for the history books!

Big-cap stocks where a big winner in the first quarter aided by a relentlessly smooth uptrend in the S&P 500 where every shallow dip was bought up. The rally had broad participation across multiple sectors. The rally over the last week lifted small-caps to the green for the year as we head into April. Not all stocks were winners however as mega-cap giants Apple and Tesla were notable losers to start the year out.

Gold was a big winner for the bulls for the first quarter as well as new all-time highs are being set as I write this message. An accommodative Fed, worries about the debt and inflation, central banks buying, geo-political conflicts escalating…pick your narrative as there are plenty to choose from. No one has complained about having gold in their portfolio for the start of the year.

Bitcoin has been a massive winner as well. The primary catalyst was the introduction of spot ETFs into the market but many of the arguments for gold apply to Bitcoin as well.

You know what else was a winner at the start of 2024. Oil. Big time. What has gained more oil or the NASDAQ? That would be oil. Sneaky price movement as we head into the start of the second quarter.

Was quite a three month stretch! Will the next quarter match the first quarter? That is not how markets work but we will certainly be here to break it down every day the market is open! Have a fantastic Easter weekend!

Chart of the Day: S&P 500 (SPY)

There were bigger winners to start the year but there were none more consistent. The methodical nature of this trend is one that will be referenced for decades to come.

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