Market Report Mar 12 2021

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Market Report for Mar 12 2021

What gets measured, gets managed.

Market Trend:
Up

Market YTD:
Russell 2000 +18.4% YTD
Dow Jones Industrial Average +6.1% YTD
S&P 500 +4.9% YTD
Nasdaq Composite +4.0% YTD

Market Volume:
NYSE Vol: 1.1 bln (B)
Nasdaq Vol: 5.9 bln (A)

New Swing Positions:
None

Comments:
Markets are for the moment at least, back in alignment with a bullish stance. The recent tree shaking removed some traders which is normal before the market continues on up. However, don’t assume it will be plain sailing, which is why we have not entered any new Swing positions this week. There is always a chance of a double-dip so be prepared just in case. At present, we have a DB formation during the tree shaking period so all looking good.

BTCUSD just missed making a new ATH yesterday and ETHUSD is making a nice C&H.

Level 3 entered into a new GBPUSD trade yesterday.

Futures as of 5am GMT are all slightly bullish.

Last trading session for the week so enjoy the weekend.

See you all on the weekly webinar at 10am GMT on Sunday.

Let’s go trade!