Market Report Feb 24 2022

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Market Report for Feb 24 2022

S&P 500 and Nasdaq chart

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

Stock Market %:
DJIA: =1.38
Nasdaq Composite: -2.57
S&P 500: -1.84
UK FTSE 100: +0.1

Market Volume:
NYSE Vol: 1.0 bln (Above)
Nasdaq Vol: 4.5 bln (Below)

Yields:
2-yr: +5 bps to 1.60%
3-yr: +3 bps to 1.78%
5-yr: +3 bps to 1.89%
10-yr: +3 bps to 1.98%
30-yr: +2 bps to 2.28%

Comments:
Another day, another volatile session. Red across the major averages and all the sectors, except for Energy on Wednesday. The S&P 500 is now deeper into correction territory and closed at the prior level of support. The Nasdaq has broken its support level.

Overnight it seems the Russian invasion of Ukraine has started which has sent Futures down and as of 5am UK time, the Dow is down -700 points.

We have made some minor adjustments in our portfolio this week and yesterday exited BABA and on Tuesday exited the recent TSLA position.

As we have mentioned incessantly over the last few months, be prepared.

Let’s go trade!