Market Report for Apr 29 2021
S&P 500 = Up
Nasdaq Composite = Up
Russell 2000 +16.7% YTD
S&P 500 +11.4% YTD
Dow Jones Industrial Average +10.5% YTD
Nasdaq Composite +9.0% YTD
NYSE Vol: 820 mln (Below)
Nasdaq Vol: 4.5 bln (Below)
New Swing Positions:
The markets had a bearish day on Wednesday.
The Fed kept the rates unchanged yesterday and while this was expected, it was still a reason for us to not be involved with the noise, so it was a stand aside day.
All of our stocks that had earnings yesterday beat expectation but some had disappointing reactions. This is why we do not get involved in earnings/silly season. AMZN and NIO will be reporting after the close today.
Energy was on top while Tech sat at the bottom.
I mentioned BTCUSD was losing steam near term in the crypto group and it then ended the session by forming a Doji below the d50MA. All the while, ETHUSD printed a new ATH.
GBPUSD is edging away from its d50MA and is still in an uptrend. We have one position on this and will add to it as price continues up.
Let’s go trade!