Market Report Apr 20 2021

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Market Report for Apr 20 2021

You will never get a good deal when you sell in desperation.

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

Market YTD:
Russell 2000 +13.0% YTD
Dow Jones Industrial Average +11.3% YTD
S&P 500 +10.8% YTD
Nasdaq Composite +8.0% YTD

Market Volume:
NYSE Vol: 856 mln (B)
Nasdaq Vol: 4.3 bln (B)

New Swing Positions:
None

Comments:
The markets had a bearish day yesterday. We are waiting for a pullback on the S&P 500 and Dow Jones Industrial Average just because of the rate at which price has moved up lately but a shallow pullback on Nasdaq Composite might be quite well placed here as that could offer a C&H formation with d50MA below to offer support.

We have made some amendments to our trades and will go through them on the weekly webinar.

GBPUSD was our biggest winner yesterday. However, at the speed it moved up, there was little chance of an additional compound. Still, current positions have done very well. EURJPY is lagging, although in profit this morning.

BTCUSD and ETHUSD are both having a rest it seems.

We were expecting a couple of bearish days this week.

Let’s go trade!