Market Report for Feb 08 2022
S&P 500 = Mixed
Nasdaq Composite = Mixed
Dow Jones Industrial Average -3.4% YTD
S&P 500 -5.9% YTD
Nasdaq Composite -10.4% YTD
Russell 2000 -10.4% YTD
NYSE Vol: 881 mln (Below)
Nasdaq Vol: 4.2 bln (Below)
Weakness in the last hour of trading left the session bearish except for Dow Jones Industrial Average which managed to end the day flat.
It was a day that lacked any market conviction as the FB hangover continued and the news of FB potentially leaving the EU over the sharing of data.
About 50% of our trades ended positively. FB (chart above) was one of the weaker ones.
Energy continued to outperform as oil prices remained above $90 a barrel.
We continue to wait for the opportunities so are still watching this market patiently for the trade set ups we like.
Let’s go trade!