Market Report for Aug 19 2020

If you want to make a living from trading, control your risk to gain consistency.

New Positions:
None

Trade Zones:
None to be wowed about

Market Trend:
Up

Market YTD:
Nasdaq Composite +25.0% YTD
S&P 500 +4.9% YTD
Dow Jones Industrial Average -2.7% YTD
Russell 2000 -5.9% YTD

Market Volume:
NYSE Vol: 770 mln
Nasdaq Vol: 3.2 bln

Comments:
After a few filed attempted, the S&P 500 finally set a new closing and intra-day high since February but with a small range, weak-looking bar. The Nasdaq also set new highs and a new record. Dow Jones and Russell 2000 both had a negative day. As already mentioned, this is the dumb money period and yesterday’s session shows that from the bar printed.

We are still mainly standing aside until we have a new opportunity in this market.

Lets go trade!