Market Report for May 14 2021
S&P 500 = Up
Nasdaq Composite = Sideways
Dow Jones Industrial Average +11.2% YTD
Russell 2000 +9.9% YTD
S&P 500 +9.5% YTD
Nasdaq Composite +1.8% YTD
NYSE Vol: 1.0 bln (Below)
Nasdaq Vol: 4.6 bln (Below)
New Swing Positions:
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!