what you reckon wooshyIn addition, with the S&P 500 having surged 7.1 per cent in the final three months of 2022 and another 6.6 per cent for the first three months of 2023, a new bull market has been validated, Lee said.
Lee said investors should position for further gains this month.
“We have used the ‘rule of 1st 5 days’ as a guide for 2023. This rule (1st 5 days greater than 1.4 per cent plus negative prior year) implied plus 2.6 per cent gains for March and March 2023 tracking plus 2.1 per cent, so very close.
“This same analysis suggests April plus 4.2 per cent, or greater than S&P 500 4200. This would put YTD gains at about 10 per cent.”
