Market Report Apr 22 2022

  • Post author:

Market Report for Apr 22 2022

S&P 500 and Nasdaq charts

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

Stock Market %:
DJIA: -1.05
Nasdaq Composite: -1.99
S&P 500: -1.48
UK FTSE 100: -1.27

Market Volume:
NYSE Vol: 956 mln (Below)
Nasdaq Vol: 5.1 bln (Below)

Yields:
2-yr: +12 bps to 2.69%
3-yr: +11 bps to 2.89%
5-yr: +12 bps to 2.98%
10-yr: +8 bps to 2.92%
30-yr: +5 bps to 2.93%

Comments:
What started with a positive premarket turned into a negative market by the close. The S&P 500 could not break its 200-day line and instead broke below the 50-day support. Similarly, the Nasdaq could not break its 50-day line but was already below the 200-day line.

The positive numbers from TSLA were diluted by market sentiment and what Fed Chair Powell had to say about inflation. The 10-yr closed around 2.92% after having retreated from 2.96%.

Some positions were managed yesterday as we trimmed some of our portfolio.

As it is Friday we can take a day off from the market and regroup over the weekend.

Let’s go trade!