Market Report for Feb 07 2020

New Positions:
CDLX
ARMK

Trade Zones:
Standing aside for NFP

Market Trend:
Up

Market YTD:
Nasdaq Composite +6.7% YTD
S&P 500 +3.6% YTD
Dow Jones Industrial Average +3.0% YTD
Russell 2000 +0.5% YTD

Market Volume:
NYSE Vol: 950M
Nasdaq Vol: 2.3B

Key U.S. News:
NFP about 175k expected

Comments:
Yesterday S&P 500, Dow Jones 30 and Nasdaq extend their weekly gains and close at new record highs and China said it will cut tariffs on $75B U.S. imports by 50%. Overall a risk on trading day.

It all comes down to how NFP is today and how then how much profit-taking will take place. About 175k is the expectation.

Stand aside, watch the market and enjoy the weekend.

Lets go trade!