Stocks pulled back in in March. Despite two down months in the first quarter, stocks were able to produce a small positive return in the first three months of the year thanks to large gains in February.
Many of you have expressed concern about increased volatility in the stock market in 2015. This feeling is exacerbated by frequently-quoted statistics in the financial media like this one from Bloomberg on March 23: “The S&P 500 has gone 24 consecutive sessions without back-to-back advances, the longest since a 24-day stretch in 2008.” Statistics like these are interesting, but they represent just one data point. Upon reading it, one could assume that we are experiencing volatility comparable to the bear market in 2008, but that would be far from the truth…
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