Welcome back to our weekly newsletter where we provide an overview of the main US and UK indices, along with analyses of selected assets that are outperforming the market.

Since the UK and US markets were closed on Friday, April 3rd, the last trading day of the week was Thursday. While we only have two days of April data so far, there’s still a lot to discuss as the market tries to bounce back from recent corrections.

Let’s get into this week’s newsletter!

US & UK INDICES OVERVIEW

S&P 500

It’s been a tough start to the year for the S&P 500. After a rough March, the index is still down 3.84% since January. But I’m starting to see some encouraging signs. Just a couple of days into April, we’re already up 0.83%. It’s a small step, but it’s a step in the right direction.

When I look at the weekly chart, the picture gets even better. We saw a solid 3.36% rise last week, which is a significant bounce. This brought us back above a level I’ve been watching closely, which is the $6,521 resistance level from last November. This tells me there’s some strength returning to the market.

We still have some work to do to reach the all-time high of $7,002. The daily chart shows there are still some hurdles to clear on the way up. But the key is that we’re building a base. As long as we can hold above $6,521, the path to recovery is open.

Dow Jones

Much like the S&P 500, the Dow Jones has had a tough start to the year, but we’re starting to see things settle down. The index is down 3.24% for the year, and April has managed to creep into positive territory with a small gain of 0.35%.

Getting back to all-time highs won’t be simple. I’m watching two key levels here. First, we need to see the price get past the 2025 high of $48,886. Think of this as the first major checkpoint. If we clear that, the next target is the all-time high of $50,512. This level is particularly interesting because it’s right around the big, round number of $50,000, which often acts as a psychological barrier for the market.

Getting past both of these hurdles would be a strong signal that the long-term uptrend is back on. When you have two significant resistance levels stacked like this, breaking through them shows real market strength.

For now, the Dow seems to have found some solid ground, just as the S&P 500 has. The real question is whether it can build on this foundation. The early signs in April are encouraging, suggesting the market is making an effort to continue moving higher.

Nasdaq 100

Of the three main US indices, the Nasdaq 100 has taken the biggest hit this year, falling 4.77% so far. As a tech-heavy index, it really felt the sting of the recent market correction. But there’s a glimmer of hope. Just a little way into April, the index has already climbed 1.29%.

So, what’s the goal? We’re looking for a recovery back to the all-time high of $26,182. To get there, we need to see consistent buying and renewed investor confidence in growth stocks. It’s too early to say if that confidence is back for good, but the first few days of April are certainly a step in the right direction.

If the Nasdaq can keep this momentum and the overall market mood continues to lift, we could be setting the stage for a solid recovery this month. Let’s watch and see if this positive start has legs.

FTSE 100: 

While the US indices are still fighting their way back, the FTSE 100 is in a noticeably stronger position, and this week made that contrast very clear.

Year to date, the FTSE is up 5.08%, and April has added another 2.55% in just two trading days. The weekly performance was particularly impressive, with the index rising 4.7% over the course of the week. Thursday closed up 0.69%, rounding off a strong few days.

Back on 23rd March, following a correction, price hit a low of 9,670. Since then, the FTSE has pushed up 7.83%, reclaiming the ground lost during that correction and using the area around the 2025 high of 9,954 as a launching pad.

That 10,000 level, both a psychological round number and the site of that 2025 peak, has now acted as support rather than resistance, which is exactly what you want to see.

The all-time high of 10,934, set on 27th February, is the next major target. If the current momentum holds through April, a test of that resistance level is very much on the cards.

PERFORMANCE REVIEW

Sphere Entertainment (SPHR)

The stock is up 33.8% this year, which is impressive on its own, but it’s even more remarkable when you consider it has already gained 126% since September 2025 when it broke out from consolidation.

When Sphere first hit the market in April 2020, it didn’t do much for years. The stock just bounced around between $18 and $56 without any real momentum.

Then, everything changed in September 2025. The stock finally broke through that $56 ceiling and hasn’t looked back since.

By January 2026, it hit $100. As you might expect with such a big, round number, the price pulled back a bit into February. This was just a healthy correction. What’s important here is that the stock didn’t fall back below $100. It used that price as a new floor, found its footing, and started climbing again.

Now, in April, the momentum is continuing. The stock is up for the month by 8.36%, the week by 6.71%, and it even closed on Thursday with a new record high.

All the signs I look for are pointing to a strong, long-term upward trend. As long as these indicators hold steady, I believe Sphere Entertainment is positioned to continue its climb.

OUTPERFORMING ASSET FOR THE WATCHLIST

NiSource (NI)

NiSource is having a great run this year, quietly and steadily climbing higher. It’s up 13.72% so far, which is a solid performance that beats all three major US indices.

This is the kind of steady, disciplined growth that I always appreciate as a long-term investor.

The stock continued this positive trend in April, closing last week up 3.31%. Now, it’s getting close to a key level I’m watching, which is the all-time high of $47 from March 16th.

What’s encouraging is how the stock behaved last month. After hitting that high, the price pulled back to $44, a previous resistance level from October 2025.

It found support there before turning around and pushing higher. When I see old resistance turn into new support like this, it gives me confidence that a stock is building a strong, long-term trend.

If NiSource can break through that $47 all-time high and close above it, the next target to watch would be the round number of $50.

There appears to be room for it to grow, and so far, this stock has shown the kind of patience-rewarding consistency that I believe holds up well over time.

Looking Ahead

More U.S. stocks are now trading above their 200-day moving average, with the percentage rising from 42% to 47%. This is an early sign of a market recovery. We’ll have a clearer confirmation when the indices surpass their all-time highs.

Keep it simple. Keep it Sublime.

The ST Team

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