Market Report Sleepy Markets take a breather
By Todd Horwitz on Aug 1, 2021 at 6:23:17 AM ∙ Comments

 Market Report Sleepy Markets take a breather



Todd Horwitz Chief Strategist

Be Prepared not Surprised.

Markets made a fresh set of all time new highs last week but closed lower. The Russell which has been down trending managed to bounce. Overall, it was a sleepy, low volume market. We are in the dog days of summer, markets traded as expected.

The FOMC concluded their meeting Wednesday, basically staying the course. They have started to admit that inflation may be worse than they thought. We have written a couple of times that a big decision could come out of the Jackson Hole meeting.

Although Call buying continues to lead the way, some bearish strategies are moving to the top of the list. Put buying is number two with Bull Put spreads, Bear calls and spreads. Money still wants to go where its treated best and that is still equities.

Big tech kicked off their earnings last week with good numbers but little movement. TLT which is more of a safety moved to the top of the bullish symbols. Tech followed with AAPL, FB, AMD, and TSLA. ETFs led the bearish symbols, QQQ, IWM, XLE, FAS and SLV.

As traders and investors, we have one thing to remember, follow the trend of the market. Be patient disciplined and leave your emotions out. The most important thing to remember is money management and self-control. 

Todd “Bubba” Horwitz

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