Market Report for May 13 2021
S&P 500 = Up
Nasdaq Composite = Sideways
Dow Jones Industrial Average +9.7% YTD
S&P 500 +8.2% YTD
Russell 2000 +8.1% YTD
Nasdaq Composite +1.1% YTD
New Swing Positions:
The S&P 500 now testing 50MA for the first time in over 1.5 months. This was the minimum that we were expecting, as per the webinar last week. A 4.5% decline but now it is a question of what happened from here? A break or bounce?
All the markets were negative yesterday as we continue to stand aside and wait for low-risk opportunities to appear. Slim pickings in recent times.
We added to GBPUSD which originally moved into profit but closed the session negative.
BTCUSD took a tumble on news that TSLA will no longer be taking the cryptocurrency for payment due to environmental concerns but is not looking at selling any of their BTC.
ETHUSD made a new high on Thursday but closed negative.
Continue to trim and/or rotate your position but as for new positions, it is another stand aside day it seems.
Let’s go trade!