Market Report for Aug 18 2022
The market opened weaker due to the anticipated minutes from the FOMC meeting in July. After the release of this, markets did go on to make intraday highs but overall had a weak session.
Unlike the tech stocks, the leading retail stocks have broadly reported unimpressive earnings which weighed the market down and saw all induced close in the red with the VIX gain 1%.
The markets are still attempting to test the resistance areas and we added to just one of our existing positions yesterday.
Let’s go trade!