Market Report Sep 22 2021

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Market Report for Sep 22 2021

We don't worry about why. Worry about what and when and if and then.

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

Market YTD:
S&P 500 +15.9% YTD
Nasdaq Composite +14.4% YTD
Dow Jones Industrial Average +10.8% YTD
Russell 2000 +10.7% YTD

Market Volume:
NYSE Vol: 9.07 mln (Above)
Nasdaq Vol: 4.0 bln (Above)

New Swing Positions:
DXY position closed with half profit.

Comments:

The Nasdaq Composite was the only gainer yesterday after the session started off promising but as is often the case during a sharp decline on a prior day, there are more traders wanting to sell out of fear so there is often a period of waiting and watching to contend with.

We have not bought into any stocks and are just watching the support levels to see price reaction to them. However, if we see opportunities that we like, we will look to enter into them. Yesterday we did not search for candidates but today we will.

Forex is very quiet over the last few days so I imagine this might be the calm before the storm.

So currencies or equities might offer opportunities. Be prepared and KYL.

Let’s go trade!