Market Report for Jan 15 2021
Russell 2000 +9.1% YTD
Nasdaq Composite +1.7% YTD
Dow Jones Industrial Average +1.3% YTD
S&P 500 +1.1% YTD
NYSE Vol: 1.04 mln (A)
Nasdaq Vol: 6.60 bln (A)
New Swing Positions:
Thursday ended with the market in the red. Another narrow range session filled with noise and devoid of momentum. Out of the 11 sectors, 7 were bearish. This is what we were expecting when mentioned on the weekend webinar and is the reason we have been standing aside most of this week.
That being said, our Growth portfolio enjoyed a good day, regardless of the session and is up 10% so far this year. Our Swing portfolio lost a little bit of momentum with the only positive stock being ZG.
The Biden administration is reportedly looking for a $2 trillion increase in fiscal spending to help the U.S. through the current times.
The last trading day of the week and the futures are bearish as of 5 am GMT.
The market is closed on Monday so have a good weekend.
Let’s go trade!