Market Report Jun 03 2021

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Market Report for Jun 03 2021

High volatility short term is less of a concern long term.

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

Market YTD:
Russell 2000 +16.4% YTD
Dow Jones Industrial Average +13.1% YTD
S&P 500 +12.0% YTD
Nasdaq Composite +6.7% YTD

Market Volume:
NYSE Vol: 1.12 bln (Above)
Nasdaq Vol: 5.00 bln (Above)

New Swing Positions:
None

Comments:
Volume is fractionally higher than normal on the indices with their close just about positive. We can assume some selling is within those levels but not enough to be a concern. Overall, it was a nothing day.

Energy was the biggest mover as oil continues to rise.

And the crypto space continues to frustrate short term traders as both BTCUSD and ETHUSD remain below the moving averages but did have positive days.

The SCI test trade had a bearish day but above the open and more importantly, sitting at the 50MA.

Nothing has changed in our portfolio but earnings almost at an end now. Low-risk opportunities may start to appear now.

Let’s go trade!