Market Report Mar 22 2022

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Market Report for Mar 22 2022

S&P 500 and Nasdaq

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

Stock Market %:
DJIA: -0.58
Nasdaq Composite: -0.40
S&P 500: -0.04
UK FTSE 100: +0.51

Market Volume:
NYSE Vol: 1.10 bln (Below)
Nasdaq Vol: 5.59 bln (Above)

Yields:
2-yr: +17 bps to 2.13%
3-yr: +19 bps to 2.34%
5-yr: +20 bps to 2.34%
10-yr: +16 bps to 2.31%
30-yr: +11 bps to 2.53%

Comments:
The S&P 500 and Dow Jones Industrial Average find resistance near the 50 and 200MAs while Nasdaq Composite found its resistance in the shape of the 50MA with the 200MA about 6% higher.

We intentionally did nothing on Monday as we waited to see what the market does or does not do and what we can see is it did not break above the moving averages resistance zones.

Other than Energy and Basic Materials, all sectors closed in the red. Crude oil had a bullish session as did Gold.

We continue to stand aside and wait for the market to indicate our next move.

Let’s go trade!