Market Report Mar 15 2022

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Market Report for Mar 15 2022

S&P 500 and Nasdaq

Market Trend:
S&P 500 = Mixed
Nasdaq Composite = Br

Stock Market %:
DJIA: 0.00%
Nasdaq Composite: -2.04
S&P 500: -0.74
UK FTSE 100: +0.53

Market Volume:
NYSE Vol: 1.2 bln (Above)
Nasdaq Vol: 5.8 bln (Above)

Yields:
2-yr: +9 bps to 1.84%
3-yr: +12 bps to 2.03%
5-yr: +12 bps to 2.08%
10-yr: +14 bps 2.14%
30-yr: +12 bps to 2.48%

Comments:
Another choppy session but the range was less than Friday’s range. It will be a non-trading day as we lead up to the FOMC statement.

We did compound on one of our positions yesterday and managed another but mainly still standing aside as the market decided what it wants to do.

The S&P 500 has now moved into a death cross and while we tend not to worry ourselves with the moment these happen, we do not necessarily want to see the 50MA trailing below the 200MA for long periods of time. However, we have dealt with this potential by using the axe on many of our trades since November 2021.

The S&P 500 still remains above support but Nasdaq Composite is testing is and closed at that level. A break of these levels and it will not be surprising if the market falls further.

We continue to remain short on Nasdaq 100 and will add to the position if levels are breached.

Let’s go trade!