Market Report May 05 2021

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Market Report for May 05 2021

Rotate rather than retreat.

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

Market YTD:
Russell 2000 +13.8% YTD
Dow Jones Industrial Average +11.5% YTD
S&P 500 +10.9% YTD
Nasdaq Composite +5.8% YTD

Market Volume:
NYSE Vol: 951 mln (Below)
Nasdaq Vol: 5.8 bln (Above)

New Swing Positions:
None

Comments:
A noisy day on the market found the VIX dealing above 20 intraday before settling @19.49

The Nasdaq 100 fell to a 4 week low and the S&P 500 fell to a 1 week low.

A rotation into cyclical stocks provided the Dow with some strength while mega-cap stocks suffered forcing the Nasdaq Composite to close almost 2% lower.

Materials and Financials were the big winners of the day with Tech the biggest loser.

The same as yesterday in that the opportunities are few and far between so it will be another stand aside day today.

Let’s go trade!