Market Report Feb 17 2022

  • Post author:

Market Report for Feb 17 2022

S&P 500 and Nasdaq Composite

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

Stock Market %:
DJIA: -0.16
Nasdaq Composite: -0.11
S&P 500: +0.09
UK FTSE 100: -0.1

Market Volume:
NYSE Vol: 890 mln (Below)
Nasdaq Vol: 4.1 bln (Below)

Yields:
2-yr: -5 bps to 1.52%
3-yr: -3 bps to 1.77%
5-yr: -2 bps to 1.92%
10-yr: UNCH at 2.05%
30-yr: UNCH at 2.37%

Comments:
As we discussed on the webinar, Wednesday would be a vital day as FOMC minutes are released. As the market awaited the release, the first half of the session was slowly drifting lower while the second half found some strength.

The S&P 500 and Nasdaq Composite are both still in consolidation based on current noise but are dealing above their first pivot point once again. We have a higher low that now needs confirmation with a higher high otherwise it is still consolidation.

Tech and Comms had the worst of it as Energy was the leader.

UPST was one of the big gainers. We exited this trade in early December and the 35% jump after earnings yesterday still has price lower than where we exited. However, now this stock is becoming interesting once again.

We continue to buy into this market as new opportunities present themselves.

Let’s go trade!