Market Report May 28 2021

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Market Report for May 28 2021

Separate the facts and news from the fiction and noise.

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

Market YTD:
Russell 2000 +15.1% YTD
Dow Jones Industrial Average +12.6% YTD
S&P 500 +11.8% YTD
Nasdaq Composite +6.6% YTD

Market Volume:
NYSE Vol: 1.9 bln (Above)
Nasdaq Vol: 5 bln (Above)

New Swing Positions:
None

Comments:
A mixed session with the Nasdaq Composite (-1.72%) lagged Dow Jones Industrial Average (+0.41%) and S&P 500 (+0.12%). The worst performers were the large growth stocks.

NYSE saw double the recent volume as Nasdaq Composite saw only a little more than the prior day.

Both BTCUSD and ETHUSD still struggled once again to get above the DVI and 50MA respectively.

And GBPUSD had a bullish day closing up 0.60%.

SCI was our test swing position and it did not make too much of an impact but at the same time did not fail. Still in proximity to the 50MA and has not undercut the prior bar. However, the bar had a more than average volume with not going anywhere. We can continue to watch this today to see if the volume has any bearing today.

Have a good weekend.

Let’s go trade!