Market Report for Mar 30 2021
S&P 500 = Up
Nasdaq Composite = Sideways
Russell 2000 +9.3% YTD
Dow Jones Industrial Average +8.4% YTD
S&P 500 +5.7% YTD
Nasdaq Composite +1.3% YTD
NYSE Vol: 998 mln (B)
Nasdaq Vol: 4.7 bln (B)
New Swing Positions:
Dow Jones Industrial Average closes at a record high after starting the session lower but the S&P 500 and Nasdaq Composite finished slightly lower. However, small caps had a bearish day closing at session lows with a 2.8% decline.
CS and NMR were the main news items of the day and as a result saw Financials, alongside Energy being the worst performers for Monday.
VIX closed slightly above the 20 mark and DXY flexed some muscle. We are long GBPUSD and EURJPY.
Our most popular question is should we sell our holdings? This is a weak time to sell but if you are holding positions that are very leveraged, you might want to consider trimming. We have not sold any of our positions and as you know, added to some of them over the past month.
As of 9.30am BST, we have an oddball Futures with Dow Jones Industrial Average 0.25% positive, S&P 500 flat and Nasdaq Composite 0.50% negative.
Look at the big picture, do your homework and be prepared.
Let’s go trade!