Market Report for Jan 14 2022
S&P 500 = Up
Nasdaq Composite = Mixed
Dow Jones Industrial Average -0.6% YTD
S&P 500 -2.3% YTD
Russell 2000 -3.8% YTD
Nasdaq Composite -5.4% YTD
NYSE Vol: 8.41 mln (Below)
Nasdaq Vol: 4.2 bln (Below)
The 10-yr came down to 1.71% which os also a support level. However, that did not help the market. The Nasdaq Composite weighed down the market on Thursday’s session which saw all the majors close in the red between -0.49% ( Dow Jones Industrial Average ) to -2.57% ( Nasdaq 100 ). It should be noted the selling pressure was not with unusual volume. Something else to note is the 10-yr was also down on the day so this might be investors selling into strength.
Further to last weekends webinar, we are using caution to navigate in this market and have made used applied management on our positions yesterday.
The GBPUSD continues to gain strength and is now at the 200 day line and also the 50 week line.
We will look to buy into the market but are waiting on the sidelines for now.
Let’s go trade!