Market Report for Dec 17 2021
S&P 500 = Up
Nasdaq Composite = Up
S&P 500 +24.3% YTD
Nasdaq Composite +17.8% YTD
Dow Jones Industrial Average +17.3% YTD
Russell 2000 +9.0% YTD
NYSE Vol: 1.1 bln (Above)
Nasdaq Vol: 4.8 bln (Below)
New Swing Positions:
As mentioned yesterday, we need to have a follow-through session but that did not unfold.
All indices were bearish on Thursday with the Nasdaq Composite having its weakest day since the end of September this year. A point to note again, similar to a few days ago is the volume is not excessive for the selling. This leads me to believe there were far fewer players involved in this selling day than normal.
ROKU, PTON and LLY were our only winners, all other stocks ended in the red.
I do not think any of our stops were hit but will confirm later this morning in TRC.
Stand aside and let the market finish its tantrum or provide evidence for a downtrend. For now, we assume this is tree shaking.
Let’s go trade!