Market Report Oct 28 2021

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Market Report for Oct 28 2021

Be contrarian and look far.

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

Market YTD:
S&P 500 +21.2% YTD
Nasdaq Composite +18.2% YTD
Dow Jones Industrial Average +16.0% YTD
Russell 2000 +14.1% YTD

Market Volume:
NYSE Vol: 925 mln (Below)
Nasdaq Vol: 6.0 bln (Above)

New Swing Positions:
USDCAD Short @1.2404 Taken half profit and STEP down.

Comments:
Lots of good earnings around but that will also mean lots of good profits as we say selling in the last hour. The S&P 50 and Dow Jones Industrial Average both closed lower while the Nasdaq Composite managed to stay slightly positive.

MSFT and GOOG both provided good earnings in Wednesday’s session.

Consumer Discretionary was the only sector to positive sector while all others were in the red. Energy was the worst performer followed by Financials.

We are still standing aside waiting for the big earnings to pass.

Let’s go trade!