MaR Jul 08 2020

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Market Report for Jul 08 2020

Stand aside

New Positions:
None

Trade Zones:
Stand aside

Market Trend:
Up

Market YTD:
Nasdaq Composite +15.3% YTD
S&P 500 -2.7% YTD
Dow Jones Industrial Average -9.3% YTD
Russell 2000 -15.1% YTD

Market Volume:
NYSE Vol: 961 mln
Nasdaq Vol: 4.2 bln

Comments:
A pullback yesterday post-July 4th. The only surprise was this didn’t occur on Monday which was the first trading day after the holiday.

Money flowed into the tech sector at the start of the session, which in turn boosted the S&P 500 taking it positive but the lack of conviction and follow-through on Monday’s bullish momentum took levels down and all 4 averages closed negative.

The market turned to defensive names as Consumer Staples and Materials ended higher for the day.

It’s a stand aside day today.

PORT Jul 08 2020

Lets go trade!