Market Report for Jul 31 2020
Nasdaq Composite +18.0% YTD
S&P 500 +0.5% YTD
Dow Jones Industrial Average -7.8% YTD
Russell 2000 -10.4% YTD
NYSE Vol: 862 mln
Nasdaq Vol: 4.0 bln
The S&P 500 declined as much as 1.7% on Thursday but the bulls poured in during the session taking it off the lows and 20MA but still ended negative. Dow Jones bounced off its 50MA intra-day but also ended the session negative. Nasdaq ended on a bullish note and moved up more after-hours due to earnings from the likes of AAPL, AMZN, GOOG and FB.
Only Tech and Comms rose yesterday while metals still rally but unfortunately, we were stopped out intra-day on Silver then immediately price moved back up but off the session highs.
Futures are up indicating a bullish start to the day but as I said in last weeks webinar, we are in a period of noise and we have seen that for most of this week so standing aside is acceptable.
Join me for the MaR webinar on Sunday at 10am BST as usual.
Lets go trade!