Markets Hit Home Run on Opening Day

Hey There Income Hunters,


I’m a huge Mets fan — and just a huge baseball fan, in general.


Opening Day is always one of the most exciting events of the year for me — and it did not disappoint yesterday.


Yes, I know, the Mets and Nationals were postponed due to Covid, but I’m just that big a fan of the Game.


Anyway, the unspoiled hope and promise this year was doubled because — as longtime readers know — I’ve been saying that we’re heading into the Best Quarter Ever … thanks to incredible government cash flows and the vaccine rollout spurring a recovering economy.


As for the Mets, with new owner Steve Cohen at the controls, we’re making incredible progress, including locking up All-Star shortstop Francisco Lindor to a reported 10-year, $341 million deal — news that made up for the delay.


Meanwhile, the market hit a grand slam — with the S&P 500 finishing over 4,000 for the first time in history …


PLUS …


One sector performed in a way I never thought it would.


The Highlight Package


In addition to the S&P 500 closing above 4,000 for the first time, here are a few of the other highlights from Opening Day …


  • SPDR S&P 500 ETF Trust (Ticker: SPY) closed over 400.

  • NASDAQ (Ticker: NDX) rose another 1.8%.

  • Oil traded down to 58.80 after an increase in production report — and still rallies to 61.38, closing UP 3.5%.

  • And a personal favorite … GLD completes a two-day, 2.5% rally on good volume.


However, the most extraordinary performance of the day has to go to iShares 20+ Year Treasury Bond (Ticker:TLT) …


It was up 1.5% with the 10-year yield dropping to 1.67% — in spite of sky-high prices …


For example, the median price of a home nationally has risen 16% from last year, according to the National Association of Realtors.


Elsewhere, used car prices have reached an all-time high — up 10.5% from last year — per Cox Automotive.


Finally, my Chart of the Day has to go to SPY I said earlier this week we would see 403 by the end of the month … 


However now I think I may be low!


Check this out …



The top of the channel doesn’t come in until around 408. Plus, look at the last 6 days of volume … 

There must be barrels of cash on the sidelines looking to be invested.


Bring It Home


I can only dream the Mets will get off to as good a start as the market once they start playing.


On the bright side, the Amazins remain undefeated!


Enjoy the long weekend everyone and Happy Easter


As always …


Live and Trade With Passion My Friends,


Griff

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