In the final trading week of August, equity markets commenced on a strong footing, with key indices closing near their daily highs. Trading volume on the NYSE was notably light.

When analysing charts, it's essential to discern patterns or indicators that others might overlook rather than focus on the obvious aspects, as most traders tend to recognise similar trends. However, knowing when to abstain from the market often holds greater significance than understanding trading methods. While many employ strategies, from short-term scalping to utilising tools like stochastics, recognising periods not conducive to trading are often undervalued.

Major indices reported significant losses on Thursday following NVDA impressive earnings release.

Equities displayed positive performance on Wednesday, buoyed by declining market rates and ascendancy from leading mega-cap companies. The primary indices reported gains between 0.5% to 1.6%. However, trading volume at the NYSE remained subdued.

n the early trading phase on Tuesday, the strong performance of mega-cap stocks buoyed the Nasdaq while curbing losses in other areas. The S&P 500 momentarily surpassed the 4,400 level but soon retreated.

Over the past week, the markets displayed mixed sentiment. On the first trading day, bullish indicators were observed around the 50-day moving average, suggesting potential buying opportunities.

However, the momentum shifted on Tuesday with a weaker session on low volume. Wednesday continued this trend, with a brief spike suggesting temporary strength before continuing the downward trajectory. By Friday, the S&P 500 touched an 8-week low while the NASDAQ fell to a 10-week low, signaling a bearish sentiment throughout the week, consistent with prior expectations.

On Thursday, equities experienced a subdued performance, with notable indices like the S&P 500 reaching a 7-week low, the Dow Jones Industrials Average descending to a level not seen in a month, and the Nasdaq 100 touching a 1.5-month trough.

Wednesday’s stock market concluded on a subdued note during a session of low trading volume on the NYSE. Initial fluctuations were minor due to the absence of strong sentiments from both buyers and sellers.

FOUR earnings Q2 2023

NU earnings call summary Q2 2023.

Summary of Unity’s earnings call Q2 2023.

In today's subdued trading session, equity markets exhibited soft performance on low volume.

The market portrayed a mixed sentiment on Monday with no news release. The market did find some strength after the open from around the 50MA. However, it should be noted once again, transactions occurred at volume levels that are below the average.

The beginning of August witnessed subdued trading activities. Despite a bullish candle on Monday, most trading occurred at the session's commencement.

Tuesday had a primarily negative bias, bottoming out mid-session, but regaining strength by the close. A doji formation hinted at a potential market reversal.

Summary of the DDOG earnings call.

On Thursday, the major indices opened the session robustly but concluded relatively unchanged, reflecting a subdued trading activity. This initial surge was driven by opportunistic buying and encouraging economic indicators, notably the July CPI data and the weekly unemployment claims report.

Wednesday saw the S&P 500 and Nasdaq 100 retracting to a 4-week low. The tech sector, primarily chip stocks, dragged the broader market. This is as was expected and discussed on the webinar. Nasdaq also tagged the 50MA. Now waiting for S&P 500.

On Tuesday, the market sentiment skewed negative, retracting from the prior session gains.

In Monday's trading session, the market began active but gradually stabilised, managing to hold onto and even amplify its initial gains despite the limited market-moving news, economic data, and trading volume.

Here is a summary of the FIGS Q2 earning report.

FIGS reported robust results in the second quarter, highlighting a 13% net revenue growth from the previous year.

This was fueled by a 21% surge in the active customer base, enhancing the firm's leadership in the healthcare apparel domain.