MaR Aug 05 2020

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Market Report for Aug 05 2020

Scared of losing money

Use risk management so that losses are always capped. Accept a loss will incur but it will be limited. Over leveraging is when trading losses can become devastating. Don’t aim for an overnight windfall, look for consistency in your trading. Once you learn how to make money from the markets, you will have an ability that can be utilised for the rest of your life but it will take lots of hard work and persistence to gain the level of consistency needed.

New Positions:
None

Trade Zones:
None

Market Trend:
Up

Market YTD:
Nasdaq Composite +21.9% YTD
S&P 500 +2.3% YTD
Dow Jones Industrial Average -6.0% YTD
Russell 2000 -9.1% YTD

Market Volume:
NYSE Vol: 863 mln
Nasdaq Vol: 3.9 bln

Comments:
The S&P 500 closed up 0.4% at session highs in what was generally a tight ranged session. Nasdaq kept up and also closed 0.4% up. Dow was up 0.6% and Russell 2000 0.7% up.

Energy was the best performing sector while Tech, Financials and Health Care all lagged.

Gold closed at it highest level of $2000/oz which is a new record. There is probably going to be a pullback on this soon so be prepared if that transpires.

BYND fell around 8% on earnings after hours after a gain of almost 6% during the session.

With yesterdays session being lacklustre, we are hesitant of new trade set ups forming but are still watching prior set ups completing.

PORT Aug 05 2020

Lets go trade!