Thanks again to Carol Massar and Tim Stenovec for having me on Bloomberg Radio yesterday!

A fast nine minutes, packed with a lot of great discussion.

We start at the 32:00 mark.

open.spotify.com/episode/00KPaL…

👀

23 of the past 44 years saw the S&P 500 correct 10% or more at some point during the year.

13 of those years finished higher, up 17.5% on average.

The March peak near SPX 5250 was attended by breadth & momentum readings not typical of cyclical tops. This doesn’t preclude a scary drawdown, however, perhaps into late May per election-year seasonality. Great perspective from Ryan Detrick, CMT

23 of the past 44 years saw the S&P 500 correct 10% or more at some point during the year.

13 of those years finished higher, up 17.5% on average.

First close beneath the 50-day MA for the S&P 500 in 110 trading days, longest since 2011.

Looking at when streaks over 100 days ended showed stocks were higher 3 mos later 88% of time and 6 mos later 81% of time.

A warning? Maybe, but maybe not.

Thanks again to Katie Greifeld for having me on Bloomberg TV today!

It was fun as always and appreciate the opportunity.

I start at the 4:40 mark.

bloomberg.com/news/videos/20…

Coming up on Bloomberg Radio soon!

Always fun to chat in person with Carol Massar and Tim Stenovec!

Fun lunch in NYC with some great friends.

Frank Cappelleri Matt Cerminaro Josh Schafer caleb silver Sonu Varghese Jay Woods

Great to chat with Phil Rosen today!

Be sure to sign up for his new newsletter Opening Bell Daily🔔. A great way to start each day.

Sonu Varghese

Remember, this is the Rocky Balboa market.

It gets knocked down, but comes right back.

In fact, 2024 is doing it more than any year in history (looking at the return the next day after a 0.75% or more loss).

Given Friday was a big down day, green today would be normal.

Retail sales 🔥

+0.7% in March, despite lower auto sales
+3.2% in Q1 (annualized)

Thanks to surging online sales.

Control group sales +1.1% in March
+5.6% in Q1 💪

Meanwhile ...

CPI - commodities ex food and energy: -1.4% in Q1 (annualized)

Carson Investment Research Ryan Detrick, CMT

Since 2000, the first half of April tends to be choppy for the S&P 500.

Then starting on April 15 a second half rally starts.

Today is April 15 and the first half wasn't very good.

“Of the 31 companies that have reported so far (6% of the S&P 500): Overall, 84% are beating estimates, and those that “beat” are beating by a median of 10%.” Thomas (Tom) Lee (not drummer) FSInsight.com

Had a blast talking about the history of financial media and so much more with Sam Ro 📈!

What a fun evening. Sonu Varghese and I appreciate it!

Some really good teams in Indy this weekend for AAU ball.

Bashy did well overall and the team grew. He saved his best for last, as he had 19 points in their final game.

Small 🌍!

Great to see you and best of luck to Roman the rest of the tournament!