Market Report for Apr 14 2020

New Positions:
None

Trade Zones:
None

Market Trend:
Up

Market YTD:
Nasdaq Composite -8.7% YTD
S&P 500 -14.5% YTD
Dow Jones Industrial Average -18.0% YTD
Russell 2000 -27.4% YTD

Market Volume:
NYSE Vol: 1.2B
Nasdaq Vol: 3.1B

Key U.S. News:
None

Comments:
The S&P 500, Dow Jones 30 and Russell 2000 all declined while the Nasdaq Composite has a bullish start to the week. All 4 averages are still below there DVIs. Wait for the breakout levels or breakdowns as mentioned in yesterdays webinar.

Volume levels are decreasing which is good as we have been through a lot of selling with heavy volume of late so good to see this area getting back to normal. Of course, this could be the calm before the storm (second leg) so be prepared in case that is the case.

When in doubt, stay out! So standing aside is the right move right now.

Lets go trade!