Traders and Investors should use caution going forward.
The stock indexes should now close the month of March and the quarter on the upside as traders position for the second quarter.
After testing the low end of their respective risk ranges, the stock indexes should head higher into the end of the month.
Nasdaq and S&P 500 are close to nine straight quarters of closing in the green.
The Federal Reserve replaced the word 'patient' with an economy that is data dependent and serves the same purpose. Interest rates will not go up anytime soon.
The stock indexes are anticipating the Federal Reserve to continue patience and no rate hike in their FOMC communique on Wednesday.
Expect volatility after the Fed's open market committee statement next Wednesday as traders position for a possible rate hike.
As anticipated, the stock indexes traded higher on Thursday from an oversold signal on Wednesday, although the volume was very light.
For the second day in a row, stocks fell and are now in oversold territory before the release of the U.S. Retail Sales number on Thursday
The DJIA and the S&P 500 stock indexes are red for the year 2015 while the Nasdaq 5000 is history for now.