After a solid and strong green Monday, the stock market is catching its breath today.
All indices are slightly in the green or flat heading into lunchtime on the East Coast.
Why the hesitation? It’s that word again… uncertainty.
Uncertainty, specifically, over what Donald Trump is really planning with his next round of tariffs.
On one hand, Monday’s rally was fueled by comments that the administration might scale back some duties set for April 2 — Trump even said he “may give a lot of countries breaks.”
That sparked some optimism. But now things are cloudy yet again.
Trump has followed up with new threats of tariffs on the pharmaceutical and auto sectors, and even floated a “secondary tariff” on countries that import oil or gas from Venezuela. It’s hard for markets to get confident with that kind of headline whiplash.
Meanwhile, Tesla (TSLA) tried to build on its monster 12% pop from Monday — but early trading was choppy. Just like the rest of the market.
A Stock to Watch: Intuitive Surgery (ISRG)
Intuitive Surgery (ISRG) is a stock to keep on your watchlist this week, as it tends to be bullish in March.
As the market has turned a bit more bullish, this seasonal trend could be worth a look as a strong seasonal play.
Buying ISRG on March 25 and holding for 18 days has delivered an average return of 4.21% over the past several years. While past performance is no guarantee, it’s definitely worth considering as we move to the end of March, which is one of the most bullish seasonal periods of the year.
Investors are still on edge about a possible recession, and we’re seeing more and more headlines pointing to such things.
Between looming tariffs and talk of federal layoffs, it’s easy to see why CFOs are on edge. Not only that, but the Consumer Confidence data we got this morning hit a 12-year low…
According to the report:
Consumers are in a funk. Another decline to 94.2 is the call for March, down from 98.3 in February,105.3 in January and 109.5 in December. Consumers are fretting over the economic outlook, their family finances and they see rising inflation.
Things aren’t all bad, however, and we’ll hopefully see Monday’s momentum continue to pick up in the weeks ahead as we head into a particularly bullish time of the year.
And as I’ve been saying for weeks, we’re nearing the point where I believe we’ll either bounce again, or start heading south…
Stay tuned… there’s plenty more to come this week!
Graham Lindman
Graham Lindman Trading
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P.S. Former Nasdaq Market Maker Has This to Say About Alpha Zone Pro
Trading veteran Jack Carter will join Roger Scott at 2 p.m. ET today for an insider session to dive into his new 0DTE platform…
And how it can front-run breakouts before they happen.
