Market Report Jan 27 2021

  • Post author:

Market Report for Jan 27 2021

Look back to go forward and be selective.

Market Trend:
Up

Market YTD:
Russell 2000 +8.9% YTD
Nasdaq Composite +5.7% YTD
S&P 500 +2.5% YTD
Dow Jones Industrial Average +1.1% YTD

Market Volume:
NYSE Vol: 1.1 bln (A)
Nasdaq Vol: 6.6 bln (A)

New Swing Positions:
None

Comments:
A fairly tight ranged session which ended slightly negative for the major averages. This hesitation is normal for earnings anticipation, especially when one of the biggest companies were reporting after the close.

MSFT had a beat and moved up 4% post-market.

FB release their earnings today and has moved up 1.5% overnight.

GME was the focus of attention once again and moved up a preposterous 170%.

We have taken some trades growth positions but still scouting for swing positions we want to be in. Earnings will make that a little more difficult so patience is required during this period.

Let’s go trade!