Market Report Feb 04 2022

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Market Report for Feb 04 2022

S&P 500 and Nasdaq Composite chart

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

Market YTD:
Dow Jones Industrial Average -3.4% YTD
S&P 500 -6.1% YTD
Nasdaq Composite -11.3% YTD
Russell 2000 -11.3% YTD

Market Volume:
NYSE Vol: 905 mln (Below)
Nasdaq Vol: 4.2 bln (Below)

Comments:
A bearish Thursday taking S&P 500 and Dow Jones Industrial Average towards their 200-day line for support. Nasdaq Composite till dealing below its 200-day line and has not breached it during the recent recovery.

The markets closed between -1.45% to -3.74%.

After Wednesday’s close FB fell 26% on disappointing earnings and also guidance and that weighed on Thursday’s market. After the close AMZN had their earnings which were good and saw price rise 14% after hours.

BoE increase interest rate back to back for the first time since 2004 and had concerns about inflation.

Right now we are in a non-directional to slightly bullish market which is generally a difficult trading environment to try and navigate so have been standing aside for the most part, other than taking the axe to PYPL yesterday.

NFP today so enjoy the prekend.

Let’s go trade!