Market Report May 14 2021

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Market Report for May 14 2021

Don't break rules then try and get even with the market.

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

Market YTD:
Dow Jones Industrial Average +11.2% YTD
Russell 2000 +9.9% YTD
S&P 500 +9.5% YTD
Nasdaq Composite +1.8% YTD

Market Volume:
NYSE Vol: 1.0 bln (Below)
Nasdaq Vol: 4.6 bln (Below)

New Swing Positions:
None

Comments:
On Thursday the S&P 500 found some strength off its 50-day line as did the Dow Jones Industrial Average, although that did not quite tag the line the day before. The Nasdaq Composite also found some strength but less than 1% while the other two were over 1%.

Looking at the weekly Nasdaq Composite candle so far this week, it is a BrRPI and looks like it has a desire to delve towards the w50MA, although there is DVI support in-between.

PTON was the biggest gainer yesterday and looks like a tag of 50MA /100 is the next stop for this stock.

We were stopped out of two GBPUSD positions with a profit and still have one remaining position which is still negative.

A new crypto position in Internet Computer was entered yesterday morning just under $300. This is a long term position, not a scalp/day/swing or any other short term style crypto trade.

Enjoy the weekend.

Let’s go trade!