MaR Apr 02 2020

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Market Report for Apr 02 2020

New Positions:
None

Trade Zones:
Standing aside

Market Trend:
Sideways

Market YTD:
Nasdaq Composite: -18.0%
S&P 500: -23.5%
Dow Jones Industrial Average: -26.6%
Russell 2000: -35.8%

Market Volume:
NYSE Vol: 1.3B
Nasdaq Vol: 3.6B

Key U.S. News:
Initial Claims
Continuing Claims

Comments:
The market kicked off Q2 by losing more than 4%. after failing to breach WVI. Price is very much in sideways to bearish territory. We should brace for more weakness unless price starts to break resistance levels.

NFP is released tomorrow so thin volume leading up to this and volatility at the start of the US session (premarket including) will lead to a further reason to stand aside.

Have a happy prekend.

MAR Apr 02 2020

Lets go trade!