Market Report Aug 03 2021

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Market Report for Aug 03 2021

rade the dip, not the dump.

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

Market YTD:
S&P 500 +16.8% YTD
Dow Jones Industrial Average +13.8% YTD
Nasdaq Composite +13.9% YTD
Russell 2000 +12.2% YTD

Market Volume:
NYSE Vol: 835 mln (Below)
Nasdaq Vol: 3.7 bln (Below)

New Swing Positions:

A low volume session yesterday and one we are no too involved with, although we did get filled into Gold. Nasdaq Composite was the only one closing slightly positive.

Dow -0.28%
Nasdaq +0.06%
S&P 500 -0.18%

For the most part of the week, it will be a lot of doing very little and just watching.

BABA is dealing above the low of last weeks bar. A breach of that and while it could be a little last amount fo tree shaking, it could also be a potential for a further decline so be sure you know how you want to handle that situation if it occurs. So far so good.

GBPUSD had a BrRPI bar and this could be a BuF formation before a continuation up. Personally, I would like to see some more weakness to encourage us to get into this.

Let’s go trade!