Market Report Apr 08 2021

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Market Report for Apr 08 2021

Don't try to always find reasons for every price movement.

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

Market YTD:
Russell 2000 +12.6% YTD
Dow Jones Industrial Average +9.3% YTD
S&P 500 +8.6% YTD
Nasdaq Composite +6.2% YTD

Market Volume:
NYSE Vol: 803.1 mln (B)
Nasdaq Vol: 4.0 bln (B)

New Swing Positions:

A flat end to a narrow range day on Wednesday but another closing record high for the S&P 500. Nasdaq Composite is now just 3.5% away from reaching ATHs.

Comms, Tech, Financials and Energy make the top four strongest sectors in the session.

We exited all GBPUSD trades so now the only remaining FX trade is EURJPY.

BTCUSD is lingering around the 50 MAZ while ETH is considering its move from the 2000 resistance.

We were standing aside yesterday due to the FOMC meeting and today due to the Fed Chair Powell speaking.

Let’s go trade!