Market Report Jun 02 2021

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Market Report for Jun 02 2021

Big money is made in stocks by being on the right side of the major moves and being patient.

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

Market YTD:
Russell 2000 +16.2% YTD
Dow Jones Industrial Average +13.0% YTD
S&P 500 +11.9% YTD
Nasdaq Composite +6.6% YTD

Market Volume:
NYSE Vol: 1.0 bln (Below)
Nasdaq Vol: 4.1 bln (Below)

New Swing Positions:
TPX @38,73

Comments:
The Dow Jones Industrial Average was the only index to close positive while the other two were only slightly negative.

Energy was the big gainer with some analysts claiming oil demand will reach pre-pandemic levels by mid-2022. Health care was the sector at the the other end.

Swing trading opportunities may start to show up more. Volume levels on the indices have cone back to normal levels which has taken a year to accomplish. Add this to the VIX decline, we are in less of an irrational state and when the three averages align, we will have more choice.

To the dismay of day traders in the crypto space, this area seems to be taking a rest.

And GBPUSD had a negative day after just having pipped the Feb 24 high yesterday.

Let’s go trade!