Market Report for Apr 21 2020
New Positions:
None
Trade Zones:
Standing aside
Market Trend:
Up
Market YTD:
Nasdaq Composite -4.6% YTD
S&P 500 -12.6% YTD
Dow Jones Industrial Average -17.1% YTD
Russell 2000 -27.3% YTD
Market Volume:
NYSE Vol: 1.1B
Nasdaq Vol: 3.7B
Key U.S. News:
Existing Home Sales
Comments:
NYSE volume is almost back to normal levels. Nasdaq is still high but this might be in part due to investments from institutions in the current market.
The market turned lower yesterday after reaching the resistance we have already discussed and also due to oil.
WTI turned negative for the first time ever. This means producers would have to pay traders to take oil off their hands. We are undoubtedly experiencing extraordinary and historic times.
Lets go trade!