Market Report Jan 20 2021

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Market Report for Jan 20 2021

You never really know a stock until you own it.

Market Trend:
Up

Market YTD:
Russell 2000 +8.9% YTD
Nasdaq Composite +2.4% YTD
S&P 500 +1.1% YTD
Dow Jones Industrial Average +1.1% YTD

Market Volume:
NYSE Vol: 1.1 bln (A)
Nasdaq Vol: 6.1 bln (A)

New Swing Positions:
None

Comments:
The S&P 500 eradicated it’s decline from Friday by gaining 0.8% on Tuesday’s session in shares mainly led by large tech, comms and energy. Nasdaq Composite gained 1.5%, Russell 2000 1.3% and the laggard was Dow Jones Industrial Average which followed the others positive stance and gained just 0.4%.

Volume levels are still elevated on NYSE and Nasdaq. We have to attribute yesterdays level to buying but there is bound to be some selling in there, although maybe limited to a rotation rather than moving to cash.

NFLX had their earnings after the close and price jumped up 12%.

And GBPUSD continued to gain strength gaining 0.28% yesterday and approaching those levels as of 5am GMT.

Mixed futures this morning. Nasdaq Composite is up 52 pts, S&P 500 4 pts and Dow Jones Industrial Average is -12.

Let’s go trade!