Market Report Aug 17 2021

  • Post author:

Market Report for Aug 17 2021

Every trading day is different but our preparation is the same.

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

Market YTD:
S&P 500 +19.3% YTD
Dow Jones Industrial Average +16.4% YTD
Nasdaq Composite +14.8% YTD
Russell 2000 +11.6% YTD

Market Volume:
NYSE Vol: 751.8 mln (Below)
Nasdaq Vol: 3.9 bln (Below)

New Swing Positions:
None

Comments:
It is difficult to want to trade this market that during the session is quite choppy and ends the session with light volume.

Futures were bearish premarket and worsened when the session began but we saw a turnaround around the London close with the Dow Jones Industrial Average and S&P 500 making a record closing high.

Healthcare was the best sector and Energy was the laggard.

GBPUSD found a little weakness from 50MA resistance and EURUSD also had a slightly bearish day.

Once again, we will not try to get too involved with this choppy, light-volume market for long term trades.

Let’s go trade!