Market Report May 11 2022

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Market Report for May 11 2022

S&P 500 and Nasdaq

Market Trend:
Indexes May 11 2022

Market Volume:
NYSE Vol: 1.2 bln (Above)
Nasdaq Vol: 6.2 bln (Above)

Yields:
2-yr: +2 bps to 2.63%
3-yr: UNCH at 2.83%
5-yr: -7 bps to 2.92%
10-yr: -9 bps to 2.99%
30-yr: -8 bps to 3.13%

Comments:
Another volatile session on Tuesday which saw the major averages swinging around, although the session did see mega-caps outperform.

The session started off strong with the &P 500 gaining near 1.9% across all the sectors, maybe in part due to the 10-yr falling below 3% but as the session progressed, the volatility increased and started to turn around.

One thing is for sure, we still do not want to be participating in this market. These increased volatility levels will be enjoyed by day traders and scalpers but not so much for swing traders and trend traders.

So we should continue to stand aside until we have good reasons to want to be involved in stocks once again.

Let’s go trade!