Payne's Perspective: February 8, 2021: Stay Chill, Stay Confident, Stay in the Game
Last week was another very deceptive one for the stock market, as each session seemed to be moving in slow motion, struggling for traction, and seeking a spark.
When the bell rang on Friday, major indices were higher, but not demonstrably, as the domestic small-cap and micro-cap names continued their remarkable 2021 campaign.
It was also a good week for the broad market. Looking at key indicators of market breadth, advancers dwarfed decliners on the NYSE and the NASDAQ, and the number of new 52-week highs against lows was jaw-dropping.
The up volume on the NASDAQ was the story of the week, pointing to astonishingly strong conviction among investors as these names to continue to move higher.
To read the full report, contact your account representative or email Research@wstreet.com
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