Market Report Mar 16 2021

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Market Report for Mar 16 2021

Markets come back, some stocks don't.

Market Trend:
Up

Market YTD:
Russell 2000 +19.5% YTD
Dow Jones Industrial Average +7.7% YTD
S&P 500 +5.7% YTD
Nasdaq Composite +4.4% YTD

Market Volume:
NYSE Vol: 974 mln (B)
Nasdaq Vol: 5.8 bln(B)

New Swing Positions:
None

Comments:
New highs for the S&P 500, Dow Jones Industrial Average and Russell 2000 while the Nasdaq Composite outperformed and moved up more than 1% taking it just beyond the 50MA.

Energy and Financials were the worst performers while Consumer Discretionary and Utilities were the best.

VIX is sitting just a touch above the 20 level so volatility has decreased since the recent tree shaking and we now we await the BO to confirm trend continuation.

Our Growths outperformed our Swings during Monday’s session with TLRY leading the way. LLY was at the bottom of the pack closing over 9% lower. EBAY was at the top in our Swings with over 3% gain and a test of 50MA.

A little bit of Dollar strength so far this week and BTCUSD might be on the way to test the 50 MAZ.

Let’s go trade!