Market Report for Aug 30 2020
When there is nothing to do, stand aside and do nothing.
CRWD – DB
ETSY – PB towards 50ma but beware the monthly candle look
NFLX – DB and possible C&H
NTES – BuF to 500
SPWH – BuF
Nasdaq Composite +30.4% YTD
S&P 500 +8.6% YTD
Dow Jones Industrial Average +0.4% YTD
Russell 2000 -5.4% YTD
NYSE Vol: 789 mln
Nasdaq Vol: 3.0 bln
The Dow turned positive for the year as are all the sectors. The S&P 500 had its sixth straight record-setting advance while the Nasdaq gained 0.6% to close at another record high.
Tech still remains the influential leader in this market but financials has been showing positive signs in recent weeks as mentioned in the recent weekly webinars.
Our percent of return in the past week has increased over 110%. As I mentioned on Fridays post, it might be worth taking some profit off the table at this time as the market has had a good rally.
Lets go trade!