The markets are starting the second quarter off with a bang, with most indices soaring upwards just shy of 3%. This morning, UBS announced further write offs totaling $19 billion, which is apparently some pretty good news or enough at least, to rally their stock 14% and power the rest of the markets higher.
While today's action may seem like a bad April Fool's day joke, it's actually a pretty decent technical sign when the stock market starts to shrug off bad news. It's also a nice curve ball to keep any of us from figuring it all out.
We'll likely be a tad bit quieter over the next few days while we go through our busy quarter end reporting process.
In the meantime, here here to good starts...
While today's action may seem like a bad April Fool's day joke, it's actually a pretty decent technical sign when the stock market starts to shrug off bad news. It's also a nice curve ball to keep any of us from figuring it all out.
We'll likely be a tad bit quieter over the next few days while we go through our busy quarter end reporting process.
In the meantime, here here to good starts...