MaR Jun 16 2020

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Market Report for Jun 16 2020

Moving Average

Many traders think moving averages are too simple to be useful. Simple is best. It is one of the best tools available for intermediate-long term traders.

New Positions:
None

Trade Zones:
AUDC
AVLR
BTAI
DAO
FSLY
GSX
MNTA
MRCY
NET
PTON
RGEN
SFM
VIPS
W
WING

AUDC,AVLR,BTAI,DAO,FSLY,GSX,MNTA,MRCY,NET,PTON,RGEN,SFM,VIPS,W,WING

Market Trend:
Up

Market YTD:
Nasdaq Composite +8.4% YTD
S&P 500 -5.1% YTD
Dow Jones Industrial Average -9.7% YTD
Russell 2000 -14.9% YTD

Market Volume:
NYSE Vol: 1.2B
Nasdaq Vol: 4.4B

Comments:
Two features we were expecting from this market and we have seen occur. Volatility and tree shaking. This will have made some brokers very happy and some traders very unhappy.

Now that price has shown its hand, the expectation is for price to move up so we can look to buy into this market once again.

Watch those support and volatility levels.

PORT Jun 16 2020

Lets go trade!