Retail Sales +0.6%

The market is getting a nice bounce this morning. We learned that retail sales rose by 0.6% in March. In the last year, retail sales are up 4.5%. Retail sales excluding gasoline was up 0.6% in March.

Today’s rally is quite broad. Many sectors are joining in. Since March 23, the S&P 500 has been locked in a band about 3% wide. Right now, we’re “testing” the upper end, which is about 2,670 or so. I’ll be curious to see if the bulls have enough confidence to push us higher.