Market Report Jul 30 2021

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Market Report for Jul 30 2021

Risk means there is a possible range of outcomes. Understand these outcomes and then position size.

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

Market YTD:
S&P 500 +17.7% YTD
Nasdaq Composite +14.7% YTD
Dow Jones Industrial Average +14.6% YTD
Russell 2000 +13.4% YTD

Market Volume:
NYSE Vol: 817 mln (Below)
Nasdaq Vol: 3.9 bln (Below)

New Swing Positions:
None

Comments:
The S&P 500 and Dow Jones Industrial Average hit ATH on Thursday but closed off those highs.

AMZN had a rare miss on earnings and as a result, saw price pullback after hours back to the DVI/w50MA. AWS grew 32% YoY and advertising grew 73% YoY. This has certainly had a bearing on the Nasdaq futures this morning.

AMD broke out and closed above the C&H formation. And TPX also managed to break out and close above its consolidation zone.

GBPUSD tagged 50MA and we have now moved our stop to the prior bar low.

Let’s go trade!