Market Report for Feb 10 2020

New Positions:
None

Trade Zones:
None

Market Trend:
Up

Market YTD:
Nasdaq Composite +6.1% YTD
S&P 500 +3.0% YTD
Dow Jones Industrial Average +2.0% YTD
Russell 2000 -0.7% YTD

Market Volume:
NYSE Vol: 860M
Nasdaq Vol: 2.2B

Key U.S. News:
None

Comments:
Good NFP (225k vs 175k) reported but the market closed lower. However, it still finished the week sharply higher.

I mentioned on Jan 30 2020 that we might move into consolidation. Coronavirus is still a concern and with market failing to break out on Friday, even after good NFP, consolidation is becoming that little bit more likely. Consider standing aside until the market tips its hand more.

Note: On the Portfolio Log I just noticed I made a mistake for ELY and typed in @21.20 for our entry when the entry was actually @20.20. It has now been amended.

Lets go trade!