Market Report Sep 01 2021

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Market Report for Sep 01 2021

Entry, patience then profit.

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

Market YTD:
S&P 500 +20.4% YTD
Nasdaq Composite +18.4% YTD
Dow Jones Industrial Average +15.5% YTD
Russell 2000 +15.1% YTD

Market Volume:
NYSE Vol: 1.2 bln (Above)
Nasdaq Vol: 4.1 bln (Below)

New Swing Positions:
GBPUSD compound @1.3775

Comments:
A quiet session to close of the month of August. While the month made a few new highs, as expected, the volume has been low for that period and our reason to mainly stand aside. However, we do still have positions for the bigger picture.

So now are in September, what are we expecting? Historically speaking, more of the same. September is when traders start to come back from their summer holidays and slowly begin to get back into the work routine at their desks. This means the latter part of the month or the start of October is when volume levels and buying conviction start to pick up.

ZM fell 16% after a beat on earnings and CRWD fell over 4$ after hours, also after a beat on earnings. Finally, we are coming to a close on the silly season.

It is our last trading day of the week as we build up towards NFP.

Let’s go trade!