WINDERMERE, Fla. ( Stockpickr) -- U.S. stocks are advancing modestly on Friday, as traders continued to buy stocks into one of the strongest first quarters of trading in recent history. The Dow is up close to 8%, the S&P 500 is up just about 12%, and the Nasdaq has gained an eye-catching 19% since the start of 2012.
At last check, the Dow was trading up 57 points on Friday, and the S&P 500 was advancing by 5.4 points. The tech-heavy Nasdaq was up around 3 points. All major indices are trading within range of fresh multi-year highs. That said, the market has seen some selling pressure the last few days. For example, the S&P 500 has fallen for three straight days heading into today.
Traders should look for the market to show its hand as we move into next week in regards to what the next major trend is going to be. We often see window dressing at the end of a quarter, so as we head into the second quarter look for the prevailing overall trend to develop. For now that trend is up, but caution is warranted since we have seen such a powerful move in equities these last few months.