Market Report Mar 17 2021

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Market Report for Mar 17 2021

Time plays a role in every trading decision.

Market Trend:
Up

Market YTD:
Russell 2000 +17.5% YTD
Dow Jones Industrial Average +7.3% YTD
S&P 500 +5.5% YTD
Nasdaq Composite +4.5% YTD

Market Volume:
NYSE Vol: 986 mln (B)
Nasdaq Vol: 5.4 bln (B)

New Swing Positions:
None

Comments:
A mixed session on Tuesday with the Nasdaq Composite being the only index ending slightly positive.

The VIX is down below 20 and at the lowest level since Feb 24 2020.

The market is awaiting the FOMC statement today so expect some noise around that time.

We entered a growth position and long position in CADJPY yesterday.

From today UBER will reclassify drivers and give them employment status in the UK, which is one of the companies largest markets and Europes biggest.

Today is a stand aside day and perhaps a management day but refrain from trading too much prior to the Fed statement.

Let’s go trade!