Market Report Apr 12 2022

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Market Report for Apr 12 2022

S&P 500 and Nasdaq Composite

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

Stock Market %:
DJIA: -1.19
Nasdaq Composite: -2.18
S&P 500: -1.69
UK FTSE 100: -0.68

Market Volume:
NYSE Vol: 926 mln (Below)
Nasdaq Vol: 4,8 bln (Below)

Yields:
2-yr: -2 bps to 2.50%
3-yr: UNCH at 2.73%
5-yr: +3 bps to 2.79%
10-yr: +7 bps to 2.78%
30-yr: +7 bps to 2.82%

Comments:
It is a stand aside week for us as mentioned during the weekend webinar. The increased uncertainty, mixed markets and the 10-yr yields jumping up +0.67 basis points keeps us on the sidelines.

The S&P 500 closed below its 50-day line but found support @4416. The Nasdaq Composite continued to stay below its 50-day line but did not quite reach support @13301.

This continues to be a capital preservation period as the pressure on the market continues with rising rates and other factors weighing down on the market. We still have long positions but refrained from buying more.

As previously discussed, we are not keen on holding Chinese stocks and our recent purchase in NIO was axed yesterday for a loss. There is volatility all-around and we do not need to add more unnecessarily to our portfolio from the hope Chinese stocks will make a comeback.

Stand aside, be patient and just watch for the opportunities in stocks that have good fundamentals.

Let’s go trade!