Market Report Feb 18 2022

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Market Report for Feb 18 2022

S&P 500 and Nasdaq Composite

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

Stock Market %:
DJIA: -7.8%
Nasdaq Composite: -2.88%
S&P 500: -2.12%
UK FTSE 100: -0.9%

Market Volume:
NYSE Vol: 923 mln (Below)
Nasdaq Vol: 4.2 bln (Below)

Yields:
2-yr: -5 bps to 1.47%
3-yr: -3 bps to 1.69%
5-yr: -7 bps to 1.85%
10-yr: -8 bps to 1.97%
30-yr: -5 bps to 2.31%

Comments:
Thursday was the worst day for the markets so far in 2022. Other than the second and third hour of trading, the market took a consistent move to the downside back below the first level of breakout since the lows of this year.

As mentioned on the webinar, this is a choppy looking market and yesterday the S&P 500 moved back down to the lows of last week. This will partly be due to the long weekend, concerns over war and other factors.

Only two sectors managed to find any form of strength, XLP and XLU that are both defensive.

Our remaining FB shares got the axe. We still have long positions but ROKU is in the queue for the axe.

With the long weekend ahead of us, we have time to assess this market again but as of today, we can assume the choppy behaviour and range bound activity indicates concern but lacks traders. We can look to volume for that metric.

Continue to be cautious and be prepared!

Let’s go trade!