Market Report Dec 01 2021

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Market Report for Dec 01 2021

Sometimes it is better to be out and looking in than it is in and wanting out.

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

Market YTD:
S&P 500 +21.6% YTD
Nasdaq Composite +20.6% YTD
Dow Jones Industrial Average +12.7% YTD
Russell 2000 +11.4% YTD

Market Volume:
NYSE Vol: 2.1 bln (Above)
Nasdaq Vol: 6.6 bln (Above)

New Swing Positions:
EURUSD Short stopped out with a loss.

Comments:
Heavy volume in Tuesday’s session saw BrRPI on the indices or close to session lows.

The comment from MRNA CEO about the current vaccines possibly being less effective against the Omicron virus and then commentary from Chair Powell about inflation saw the market sell-off. We did some more management yesterday as we wait for the volatility levels to subside a little before we consider buying any more positions.

ETHUSD is less than 3% from its highs this morning. BTCUSD did not take the same path and is still more than 20% away from its highs.

Another mainly stand aside day as we head towards NFP.

Let’s go trade!