Market Report for Dec 30 2021
S&P 500 = Up
Nasdaq Composite = Up
S&P 500 +27.6% YTD
Nasdaq Composite +22.3% YTD
Dow Jones Industrial Average +19.2% YTD
Russell 2000 +13.9% YTD
NYSE Vol: 608 mln (below)
Nasdaq Vol: 3.7 bln (Below)
New Swing Positions:
GBPUSD short exited with a loss.
There is a lack of participation in these recent sessions as yesterday was another very low-volume trading day. This was something that was highlighted in a prior webinar and not unexpected as many traders will be on holiday. The alternative view is the traders are there but there is a lack of conviction in this market. However, the S&P 500 and Dow Jones Industrial Average did manage to close at record highs.
Eight of the eleven sectors closed higher but with a maximum gain of only +0.61% which was real estate. The worst performer was energy at -0.64%.
Growth stocks which there was an absence of momentum from during the session, possibly due to rising rates, did manage to find some strength later in the session. MSFT reached its lows around lunchtime in NY.
Today we will still be looking to buy into this market but opportunities have been scarce of late.
Let’s go trade!