MaR Apr 23 2020

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Market Report for Apr 23 2020

Our Positions:
MSFT
NFLX
ZM

Trade Zones:
Standing aside

Market Trend:
Up

Market YTD:
Nasdaq Composite -5.3% YTD
S&P 500 -13.4% YTD
Dow Jones Industrial Average -17.7% YTD
Russell 2000 -28.0% YTD

Market Volume:
NYSE Vol: 1.0B
Nasdaq Vol: 3.0B

Key U.S. News:
Initial Claims
Continuing Claims
New Home Sales

Comments:
The S&P 500 is still within the resistance zone as is the Dow Jones but as mentioned in the prior webinar, Nasdaq Composite is dealing above its 50MA and DVI so leading the way.

Stocks have recouped some of the losses from this week and WTI crude spikes 19% to almost $14 a barrel.

Gold bounced off support yesterday so unless price breaks prior support (1704) then we might see a retest of the prior high near (1790).

MAR Apr 23 2020

Lets go trade!