Market Report Feb 08 2022

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Market Report for Feb 08 2022

FB chart

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

Market YTD:
Dow Jones Industrial Average -3.4% YTD
S&P 500 -5.9% YTD
Nasdaq Composite -10.4% YTD
Russell 2000 -10.4% YTD

Market Volume:
NYSE Vol: 881 mln (Below)
Nasdaq Vol: 4.2 bln (Below)

Comments:
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!