Market Report for Feb 03 2020

New Positions:
AAXN

Trade Zones:
BURL
TEAM
VBTX

Market Trend:
Up

Market YTD:
Nasdaq Composite +2.0% YTD
S&P 500 -0.2% YTD
Dow Jones Industrial Average -1.0% YTD
Russell 2000 -3.3% YTD

Market Volume:
NYSE Vol: 1.3B
Nasdaq Vol: 2.7B

Key U.S. News:
ISM Manufacturing Index
Construction Spending

Comments:
The market sold off on growth concerns due to coronavirus but like most times, this is exaggerated due to fear and heard mentality.

Smart traders do the opposite to what the herd do so watch for opportunities.

We are in Earnings season so be aware of this when looking at taking new positions and also with your current positions.

S&P 500 hits its 50MA support, although Dow Jones and Russell 2000 deal slightly below. Nasdaq is just over 2% above its 50 day line.

AMZN rose 7% after reporting quarterly results.

Lets go trade!