Decades ago there was a Wall Street adage, “As goes GM, so goes the market.” In today’s market it’s really hard to point at any one stock or theme that has that kind of impact on the overall market. 

Gene Peroni’s Daily Podcast: senior market indices, but I think it’s important to address the underlying market – the individual stocks & sectors. 

While awaiting the 1st quarter earnings season I wasn’t so sure just how investors would react given the gains we’d seen in the market.

The Dow breaking into uncharted territory once again, actually coming within less than 100 points of the next millennium level before a constructive pullback. 

It’s been my contention over the many years of this bull market cycle that a key technical pillar has been the broad and diverse sector participation. 

The Dow is leading other of the major indexes year to date but not by a big margin

First quarter earning season begins next week. We will start seeing a flow of earnings coming in and this could be very significant for the market. 

The CBOE Volatility Index are trading at another 52 week low.

I’m not sure just how much rests on the 1st quarter earnings season but I think that in some sectors or among some themes the results and the reactions could be telling about the short-term outlook for momentum stocks. 

As we begin the 2nd quarter, I think it might be appropriate to review some of the comments and forecasts I made at the end of last year with regard to how 2021 might shape up.