Macroeconomic themes continue to rule market direction. A strong USD, low interest rates, value stock strength and sector rotation make for strong investment currents in the bullish month of April.
Coinbase’s public debut raises questions of valuation in the cryptocurrency space. At $100Bln market cap, COIN has become a highly valued company ready for the main US indexes.
The S&P 500 (SPX) hits the higher levels of its technical trading channel. Healthcare breaks out and Biotech looks ready to rebound. DKNG does not respond to positive news flow, but rests on support. PPG takes off on strong results and a forecast, pushing AXTA higher in sympathy. Industrials continue their path higher.