CFRA’s Sam Stovall sees three reasons April should spell gains for stocks.
Stovall, who’s known for building market forecasts based on historical trends, highlights market instability over the past two weeks as his top bullish signal.
“The period after the Ides of March is typically volatile — actually falling about 60% of the time,” the firm’s chief investment strategist told CNBC’s “Trading Nation” on Monday. “Whenever that has happened, it sort of set up a nice springboard into April.”
So far this month, the S&P 500 is up more than 4%. However, the index is virtually flat since March 15. When the index slumps in March’s second half, Stovall finds a positive April happens 77% of the…