Market Report Jul 16 2021

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Market Report for Jul 16 2021

Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish.

Market Trend:
S&P 500 = Up
Nasdaq Composite = Up

Market YTD:
S&P 500 +16.1% YTD
Dow Jones Industrial Average +14.3% YTD
Nasdaq Composite +12.8% YTD
Russell 2000 +10.9% YTD

Market Volume:
NYSE Vol: 859 mln (Below)
Nasdaq Vol: 4.4 bln (Below)

New Swing Positions:
None

Comments:
An unusual looking day on the market as mega-cap stock weighed down on bullish activity. The Dow Jones Industrial Average managed to close positive while the other two failed to do so.

Utilities was the winning sector of the day and Energy was the biggest loser followed by Tech.

MSFT will be bringing out Windows 365 which is a thin client access to Windows in the cloud from anywhere. It is targeted at businesses, at least for now but looks like it might have a good adoption rate over time. Fewer reasons for companies to buy expensive hardware or their users, allowing them access to powerful computers in the cloud. Works from within most browsers and most operating systems. Seems MSFT have upped their game in this space.

As with most earnings seasons, there is plenty of noise and tree shaking. Like I said yesterday, hold tight.

Let’s go trade!