Almanac Trader — Market Bounce Has Room to Run

After being mauled by bears in the first half of the month, the market appears to have found some support just before mid-month. As of today’s close, March 19, month-to-date losses have been trimmed to DJIA –4.3%, S&P 500 –4.7%, NASDAQ –5.8%, and Russell 2000 –3.7%. This is notable improvement from the March 13 closing lows when losses ranged from –6.9% by DJIA to –8.2% from NASDAQ. Based upon March’s seasonal trend over the recent 21 years, the current market bounce does have room to continue through the end of the month.