Market Report Feb 04 2021

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Market Report for Feb 04 2021

Trade with an edge, not the dumb money.

Market Trend:
Up

Market YTD:
Russell 2000 +9.4% YTD
Nasdaq Composite +5.6% YTD
S&P 500 +2.0% YTD
Dow Jones Industrial Average +0.4% YTD

Market Volume:
NYSE Vol: 1.0 bln (A)
Nasdaq Vol: 7.4 bln (A)

New Swing Positions:
None

Comments:
The market had a mixed close as the S&P 500 managed a 1 week high based on good earnings overall.

PYPL moved up overnight after releasing their earnings but futures are down.

We have not needed to manage any positions during the last 2 weeks and that still remains the case now.

The markets are still bullish and VIX is declining so that fairs well. We are still looking for new positions but as of yesterday, there have not been too many low hanging fruit around. This will be partly due to the noise the markets have endured recently and partly due to the moves stocks have had YTD.

Let’s go trade!