The markets are starting the second quarter off with a bang, with most indices soaring upwards just shy of 3%. This morning, UBS announced further write offs totaling $19 billion, which is apparently some pretty good news or enough at least, to rally their stock 14% and power the rest of the markets higher.
While today’s action may seem like a bad April Fool’s day joke, it’s actually a pretty decent technical sign when the stock market starts to shrug off bad news. It’s also a nice curve ball to keep any of us from figuring it all out.
We’ll likely be a tad bit quieter over the next few days while we go through our busy quarter end reporting process.
In the meantime, here here to good starts…
