Market Report Feb 10 2021

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Market Report for Feb 10 2021

Don't read the small print, look at the big picture.

Market Trend:
Up

Market YTD:
Russell 2000 +16.4% YTD
Nasdaq Composite +8.7% YTD
S&P 500 +4.1% YTD
Dow Jones Industrial Average +2.5% YTD

Market Volume:
NYSE Vol: 892 mln (B)
Nasdaq Vol: 8.6 bln (A)

New Swing Positions:
None

Comments:
The indices posted new highs but gave back some their gains during the session to close slightly lower, although the Nasdaq Composite and Russel 2000 managed to close at record highs.

NYSE volume levels are normal but Nasdaq still has heavy volume. Couple that with record highs, we have to assume there is buying in this space.

ZG and LYV printed new highs yesterday.

BTCUSD printed a small Doji yesterday so we may see a pullback. A break of the Doji high removes the threat and we could well see further moves up.

GBPUSD continued its uptrend after we added to our position again yesterday. Read Anne’s Pound Profit Taking post here.

GBPUSD Feb 10 2021

Let’s go trade!