Market Report for Jan 21 2022
S&P 500 = Mixed
Nasdaq Composite = Mixed
Dow Jones Industrial Average -4.5% YTD
S&P 500 -6.0% YTD
Russell 2000 -9.9% YTD
Nasdaq Composite -9.5% YTD
NYSE Vol: 941 mln (Below)
Nasdaq Vol: 5.0 bln (Below)
Same tricks, different day for the markets. As expected and as was discussed in our trading forum, the market starts with a positive premarket and closes negative and in proximity to the session lows during this period.
Investors continue to sell into strength, although there was not much to be had for PTON that just sold 24% off after news of them temporarily halting some of their production. We exited our position in PTON near the start of the year.
NFLX had their earnings and fell 20% post-market. This is a stock we do own but may look to manage now.
We have more earnings due out and will amend our positions as needed based on the outcomes.
At present, we still continue to watch this market and wait for opportunities offered to go either long or short.
Let’s go trade!