Market Report Jul 18 2021

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Market Report for Jul 18 2021

Be wary of the media mania.


No webinar this week

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

Market YTD:
S&P 500 +15.2% YTD
Dow Jones Industrial Average +13.3% YTD
Nasdaq Composite +11.9% YTD
Russell 2000 +9.5% YTD

Market Volume:
NYSE Vol: 961 mln (Below)
Nasdaq Vol: 4.0 bln (Below)

New Swing Positions:

‘Hold tight’ was our theme for the week and coming weeks. We mentioned noise and an increase in volatility would be surrounding the current trading activity, mainly due to earnings. We have seen VIX move up slightly to represent the noise but nothing to be concerned about.

Friday saw the indices fade from the start and close just off session lows as the Dow Jones Industrial Average came within a couple of points of its ATH. The S&P 500 and Nasdaq Composite are indicating possible BuF formations.

Utilities was the best performer this week and Energy was the worst. Healthcare, Tech and Comms all faired better than the S&P 500 which was sat in the middle of the weekly performances.

Next week we have more earnings. Note the dates of earnings for the stocks you hold and trim position size if you wish to prior to earnings.

Have a good weekend.

Let’s go trade!