Market Report Mar 18 2021

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Market Report for Mar 18 2021

A good trader will always find more high probability opportunities.

Market Trend:
Up

Market YTD:
Russell 2000 +18.3% YTD
Dow Jones Industrial Average +7.9% YTD
S&P 500 +5.8% YTD
Nasdaq Composite +4.9% YTD

Market Volume:
NYSE Vol: 1.1 bln (B)
Nasdaq Vol: 5.4 bln (B)

New Swing Positions:
None

Comments:
The reaction to the Fed’s statement was fairly bullish as the S&P 500 and Dow Jones Industrial Average managed to close at record highs. Both the Nasdaq Composite and Russell 2000 had a positive day too.

The VIX is now at 19.23 taking it lower than yesterday and back to the pre-pandemic days.

We entered a long position on GBPCHF and added to GBPUSD yesterday but no new stock positions.

Today might end up being another stand aside day for us as the market attempts to get back into a bullish alignment.

Let’s go trade!