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After performance results for the record books in the first quarter of 2019, the stock market is entering a very challenging period in April.
To be sure, the success and presumed benefit from a US-China Trade Deal remains a big economic and geopolitical carrot stick for the markets in the days ahead. How much of the anticipated trade deal dividend already has been discounted by the impressive Q1 gains is anyone’s guess at this point. Certainly, both the adjustment of the Fed’s interest rate trajectory and the prospect of renewed growth once the trade dispute is resolved combined to support the market during Q1.
The eleven year old bull market continues uninterrupted (save for a few weeks late last year). Here we see the Dow Jones 65 Composite has pushed above levels which, until now, represented resistance. At this point, the market is just one China trade deal away from lifetime highs.
The IPO everyone, and I mean everyone, was talking about last week was LYFT. I haven’t seen this much excitement over an IPO, especially among millennials, since the SNAP IPO. As a reminder, here’s SNAP until its recent recovery: