Market Report for Aug 03 2021
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:
None
Comments:
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!