BALTIMORE ( Stockpickr) -- The big indices posted their best first quarter in more than a decade in the three months ended March 31. So can they do it again?
The S&P 500 climbed a full 12% in the first quarter, itself shy of the massive 18.7% rally that we saw in the Nasdaq Composite over that same period. That's some pretty staggering performance, especially when the weak trading of the latter half of 2011 is taken into account. And now, late-to-the-game investment managers are scrambling to match those returns -- after all, anyone who entered 2012 with a conservative bent is trailing the market big-time right now.
Whether Mr. Market can continue this rally is another story. At this point, the macro technical picture is still looking strong, despite less appealing fundamentals in markets like China. Earning season's start later this month could rekindle the fundamental argument for buyers to keep buying.