Market Report Jan 13 2021

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Market Report for Jan 13 2021

Don't rush for good returns. Be patient and stay in the trend.

Market Trend:
Up

Market YTD:
Russell 2000 +7.8% YTD
Dow Jones Industrial Average +1.5% YTD
Nasdaq Composite +1.4% YTD
S&P 500 +1.2% YTD

Market Volume:
NYSE Vol: 1.1 bln (A)
Nasdaq Vol: 7.0 bln (A)

New Swing Positions:
None

Comments:
As mentioned on the weekly webinars, we may see some more noise and tree shaking come into this market. The first two days of this week have done just that. Monday was bearish while Tuesday turned bullish before ending a little more than flat, although small-caps Russell 2000 closes at new record highs.

Volume on NYSE and Nasdaq are high without price getting very far. This shows we have volatility creeping in so we should be cautious going forward. We can still enter the market but again, low risk only.

Continue to watch the market for opportunities but risk reduction in the form of purchase numbers or position size should be considered.

Our biggest gainer yesterday in the Growth fund was XPEV and in our Swing fund it was PINS.

Our GBPUSD Level 3 positions also provided a very good profit while EURUSD lagged behind slightly.

Let’s go trade!