Market Report Aug 24 2021

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Market Report for Aug 24 2021

Contrary but correct.

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

Market YTD:
S&P 500 +19.3% YTD
Nasdaq Composite +15.9% YTD
Dow Jones Industrial Average +15.5% YTD
Russell 2000 +11.8% YTD

Market Volume:
NYSE Vol: 764 mln (Below)
Nasdaq Vol: 3.8 bln (Below)

New Swing Positions:
None

Comments:
The S&P 500 and Nasdaq Composite print new ATH as the latter index momentum help push the market up.

Energy was the leader followed by Tech as Utilities, Real Estate and Consumer Staples sat in the red. However, the gains were well spaced out which was nice to see.

The FDA granted PFE vaccines for ages 16 and above which might have also helped boost the market.

GBPUSD gained strength and moved up over 100 pips for the day, although current facing immediate resistance.

As of 5.30am BST, Futures as slightly bullish.

Let’s go trade!