Market Report Aug 31 2021

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Market Report for Aug 31 2021

The trend often falls apart on you when you buy with the crowd during a frenzy top.

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

Market YTD:
S&P 500 +20.6% YTD
Nasdaq Composite +18.5% YTD
Dow Jones Industrial Average +15.7% YTD
Russell 2000 +14.7% YTD

Market Volume:
NYSE Vol: 703 mln (Below)
Nasdaq Vol: 4.0 bln (Below)

New Swing Positions:
EURUSD @1.1800

Comments:
Another record close for the S&P 500 and Nasdaq Compositehelped by the big tech stocks.

Real Estate and Tech were the leaders of the first trading session. Financials was the laggard.

With the UK bank holiday out of the way, we may see more volume in FX but we have a short trading week due to NFP and a long weekend as next Monday is Labor day.

Volume is still light and buy points here are riskier than we would want them to be so with safety first, we will continue to wait.

Our biggest gainer was DQ with a +17.5% session. EDIT trailed the session with -5.69%. However, after hours ZM fell after a surprise earnings of +0.20 were released.

Let’s go trade!