Markets to End March Bullishly

(3/24/22) Markets' recent rally back above resistance levels sets up for a bullish advance into the end of the month. Markets are over-bought, short-term, so some consolidation at current levels would not be surprising. There is good support as markets sit atop the 50-DMA, and the 20-DMA is starting to turn upwards as another bullish barometer. As the end of the month approaches next week, mutual funds will need to rebalance portfolios, thanks to two months of heavy welling, and the recent surge in interest rates. Bond prices have also come down, and the rejiggering of portfolios could provide some upward lift to markets as the quarter concludes. Beyond that, it's anyone's guess as to what happens in the markets: The Fed's rumored to raise rates 50-basis points in May, inflation is running amok, and over the next several months, the economic environment is going to continue to deteriorate, potentially putting a lid on prices. In the meantime, over the next few days, a correction and consolidation would not be a surprise, and would set markets up for yet another rally right into the end of the quarter.
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