Market Report Jul 28 2021

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Market Report for Jul 28 2021

In bear markets, move your money from growth to defensive.

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

Market YTD:
S&P 500 +17.2% YTD
Nasdaq Composite +13.8% YTD
Dow Jones Industrial Average +14.6% YTD
Russell 2000 +11.0% YTD

Market Volume:
NYSE Vol: 881 mln (Below)
Nasdaq Vol: 4.3 bln (Below)

New Swing Positions:
None

Comments:
A bearish day but the markets closed considerably off their session lows. As mentioned on the weekend webinar, this is the time the latecomers attend the party only to find they are shaken out and that is exactly what happened yesterday.

Earnings/silly season is here and yesterday we had two of the biggest companies reporting. AAPL and MSFT both beat expectations but investors were cautious in the session while awaiting these results. AMD was also a beat. We have more earnings due out today.

BTCUSD and ETHUSD both produced a BuRPI in yesterdays session as did GBPUSD.

We will be mainly standing aside again today but will start to look for pockets of opportunities opening up.

Let’s go trade!