MaR Jul 09 2020

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Market Report for Jul 09 2020

Waiting and watching

Be patient and let price come to you.

New Positions:
SFM

Trade Zones:
BHVN
MTH
PLAN
WORK

Market Trend:
Up

Market YTD:
Nasdaq Composite +16.9% YTD
S&P 500 -1.9% YTD
Dow Jones Industrial Average -8.7% YTD
Russell 2000 -14.5% YTD

Market Volume:
NYSE Vol: 1.0 bln
Nasdaq Vol: 4.0 bln

Comments:
The majority of the buying came in the last hour of trading yesterday which also saw the Nasdaq Composite move up 1.4% and closed at another record high.

AAPL, MSFT and AMZN were strong throughout the session which provided strength on the Tech and Consumer Discretionary sectors.

We were triggered as a new trade into SFM at $25 AT support late into the session which was originally a DB formation and now morphing into an iH&S.

PORT Jul 09 2020

Lets go trade!