Market Report Jun 17 2021

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Market Report for Jun 17 2021

Create a state of mind that is not affected by every miniscule move in the market.

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

Market YTD:
Russell 2000 +17.2% YTD
S&P 500 +12.5% YTD
Dow Jones Industrial Average +11.2% YTD
Nasdaq Composite +8.9% YTD

Market Volume:
NYSE Vol: 1.1 bln (Above)
Nasdaq Vol: 4.6 bln (Above)

New Swing Positions:

As everyone awaited the Fed statement yesterday, the trading aspect was of little interest. The markets closed moderately lower as the S&P 500 hit a 1.5 week low and Dow Jones reached a 3.5 week low. Consumer Discretionary was the leader and only positive sector.

As was widely expected, the Fed keeps rates near zero. The 10 Yr treasury rate went up 1.57% and VIX 6.64%.

Dow -0.77%
Nasdaq -0.24%
S&P 500 -0.54%

We did not look to buy positions or amend any yesterday but we did get filled into a NFLX limit order which was a compound level we raised higher as it has persistently avoided hitting our limit level in recent times.

GBPUSD fell to its 50MA and Gold fell below its DVI.

BTCUSD and ETHSD both had a bearish day but trapped in the range.

Today we should cycle through our watchlists for new opportunities.

Let’s go trade!