The market peaked last year and then corrected in December, falling 10%. It made a ‘V’ bottom and has run right back up to the peak today. There has been little back and filling where the market struggles higher and therein lies an issue. Most markets do struggle and that struggle is a tug of war between bulls and bears. We have not seen that in this latest stock market move.
Currently, the bulls have the upper hand. Earnings, the driver of all markets, are coming in for the first quarter better than expected, and that seems to support higher prices. However, while April tends to be a good market month for stocks, May traditionally is the turning point downward.
Enjoy the ride but be prepared as the ride is very likely to get bumpy.