Market Report Feb 23 2022

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Market Report for Feb 23 2022

S&P 500 and Nasdaq

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

Stock Market %:
DJIA: -1.42
Nasdaq Composite: -1.23
S&P 500: -1.01
UK FTSE 100: +0.13

Market Volume:
NYSE Vol: 1.1 bln (Above)
Nasdaq Vol: 4.8 bln (Above)

Yields:
2-yr: +8 bps to 1.55%
3-yr: +7 bps to 1.75%
5-yr: +4 bps to 1.87%
10-yr: +2 bps to 1.95%
30-yr: UNCH at 2.25%

Comments:
The markets closed off their session lows for Tuesday but still had a bearish and difficult day amidst the rising tensions between Russia and Ukraine.

The UK, US and EU all applied some sanctions to Russia.

All the sectors closed in the red for the day.

SPCE and TDOC had earnings after the bell and both reported better than expected results.

As we can see from the charts, the markets are in consolidation. It is driven solely by the news and little to no fundamentals, although some technicals are needed for getting on the right side of what is just intraday noise and this is not necessarily leading to a trend, at least not until we can see certain levels breached.

As mentioned in the webinars, we have been through this before and have seen what happens during breakouts of war. While this is less of a war and more of an invasion, the results still hold true as we watch the noise in the markets for the foreseeable future.

We might add to certain positions from here on.

Let’s go trade!