Market Report for Sep 21 2021
S&P 500 = Sidewways
Nasdaq Composite = Sideways
S&P 500 +16.0% YTD
Nasdaq Composite +14.2% YTD
Dow Jones Industrial Average +11.0% YTD
Russell 2000 +10.5% YTD
NYSE Vol: 1.1 mn (Above)
Nasdaq Vol: 4.8 bln (Above)
New Swing Positions:
GBPUSD two positions. One with loss. One with profit.
A nice move down yesterday undercutting the 50MA on the S&P 500 and Nasdaq Composite. The Dow Jones Industrial Average had already been dealing below the 50-day line prior sessions.
This price action will inevitably concern traders and I am sure the news will have been that of worry yesterday. However, there looked like some had been buying this move down at the session markets close off their lows. We could see Dow Jones Industrial Average head towards the DVI due to its current proximity to it.
The markets are now between 4% to 4.7% below the recent highest closing levels and are looking a little more attractive now.
Two things to note:
1. Buy lightly when the price begins to move up.
Let’s go trade!