Market Report Apr 13 2022

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Market Report for Apr 13 2022

S&P 500 and Nasdaq

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

Stock Market %:
DJIA: -0.26
Nasdaq Composite: -0.30
S&P 500: -0.34
UK FTSE 100: -0.55

Market Volume:
NYSE Vol: 873 mln (Below)
Nasdaq Vol: 4.8 bln (Below)

Yields:
2-yr: -11 bps to 2.39%
3-yr: -13 bps to 2.60%
5-yr: -11 bps to 2.68%
10-yr: -6 bps to 2.73%
30-yr: +1 bp to 2.83%

Comments:
A premarket rally after the better than feared CPI data was released saw the market open in strength but that strength was used by some traders as a reason to sell some stocks and no doubt short covering for bearish traders.

As mentioned yesterday, our view of the market is one that is preferred from the sidelines. We are not trying to claim we are right or wrong in calling this market but we are certainly in a choppy one, which we did mention was likely to happen going forward in the weekly webinar almost two months ago. So knowing what we assumed back then actually play out now, allows us to use this period more productively, instead of chasing the noise.

Our long positions are still in-play. There are no adjustments to what we own during Tuesday’s session.

Stand aside, watch the market and look for low-risk set ups.

Let’s go trade!