Market Report Feb 02 2021

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Market Report for Feb 02 2021

Always trade emotionally neutral.

Market Trend:
Up

Market YTD:
Russell 2000 +7.7% YTD
Nasdaq Composite +4.0% YTD
S&P 500 +0.5% YTD
Dow Jones Industrial Average -1.3% YTD

Market Volume:
NYSE Vol: 1.1 bln (A)
Nasdaq Vol: 6.9 bln (A)

New Swing Positions:
Silver half risk @29.65

Comments:
The big dogs helped the market rally on the first day of the trading week and of February.

GME which was the attention of the short squeeze last week lost 31% while the tech stocks that were sold off during the same time made a comeback yesterday. The likes of FB, GOOG, TSLA and AMZN all made positive moves.

Our biggest mover was SPCE which was up 21%. Our biggest loser was LLY which lost 2.3%.

Let’s go trade!