MaR Jul 17 2020

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Market Report for Jul 17 2020

Trade the trend

New Positions:
None

Trade Zones:
Stand aside

Market Trend:
Up

Market YTD:
Nasdaq Composite +16.7% YTD
S&P 500 -0.5% YTD
Dow Jones Industrial Average -6.3% YTD
Russell 2000 -12.0% YTD

Market Volume:
NYSE Vol: 777 mln
Nasdaq Vol: 4.2 bln

Comments:
Today is another stand aside day for new positions as we approach the weekend, regardless of how the market plays out.

NFLX shares were dealing a little higher ahead of Earnings but fell 10% after hours after an earnings miss of 24 cents. We applied Level 3 management techniques to this trade but if you are trading this based on Level 2, you will have managed the trade beforehand.

Gold is holding at 1800 and currently shaking off weak traders near term.

Have a good weekend Dynamic Traders.

Remember to join me on the weekly webinar this Sunday at 10am UK time.

PORT Jul 17 2020

Lets go trade!