Market Report Apr 05 2022

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Market Report for Apr 05 2022

S&P 500 and Nasdaq

Market Trend:
S&P 500 = Up
Nasdaq Composite = Mixed

Stock Market %:
DJIA: +0.30
Nasdaq Composite: +1.90
S&P 500: +0.81
UK FTSE 100: +0.28

Market Volume:
NYSE Vol: 917 mln (Below)
Nasdaq Vol: 4.5 bln (Below)

Yields:
2-yr: -1 bp to 2.42%
3-yr: -1 bp to 2.61%
5-yr: unch at 2.55%
10-yr: +3 bps to 2.41%
30-yr: +6 bps to 2.48%

Comments:
As discussed on the weekend webinar, we were anticipating a big day on Monday and we got it. All the major averages were up but only five sectors managed to find strength.

Except for two, all of our stocks enjoyed a bullish day.

Elon Musk disclosed a 9.2% stake in TWTR which saw the shares of the social media company close with a 27% gain. I remember reading a tweet a year or more ago when someone mentioned Musk should buy Twitter and Musk joked ‘how much is it?’ which clearly was not a joke or perhaps sparked the idea. Will Musk be the first to tweet from Mars?

SBUX is a stock we decided to exit with no profit on Jan 6 2022. Since then over the last three months, it has fallen 20% after failing at the 50-day line. For various reasons, SBUX might be worth adding to the watchlist now.

SBUX support zone

Remember, on Wednesday we have the Fed minutes so plan and be positioned beforehand.

Let’s go trade!