MaR Apr 28 2020

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Market Report for Apr 28 2020

New Positions:
None

Trade Zones:
AUDC
SMG
TEAM
UI
ZYXI

Market Trend:
Up

Market YTD:
Nasdaq Composite -2.7% YTD
S&P 500 -10.9% YTD
Dow Jones Industrial Average -15.4% YTD
Russell 2000 -23.2% YTD

Market Volume:
NYSE Vol: 970M
Nasdaq Vol: 3.6B

Key U.S. News:
Consumer Confidence

Comments:
Markets close higher but S&P 500 and Dow Jones Industrial fail to close above the recent pivot high which is above the 50MA. The Nasdaq Composite and Russell 2000 did manage to close above a recent pivot high but the Russell 2000 is still just below 50 MA.

Nasdaq Composite is the leading index while Russell 2000 is the lagging index.

We are still bullish will continue this stance until support levels are starting to be breached.

Current positions, NFLX, MSFT (Earnings this week) and ZM are all doing ok. We will add to them and also grow our book if the markets continue to move up.

With the FOMC rate decision due out tomorrow, we might start to see lower volume levels in the latter part of todays session as the market prepares itself.

MAR Apr 28 2020

Lets go trade!