Market Report for Jun 16 2020
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.
Nasdaq Composite +8.4% YTD
S&P 500 -5.1% YTD
Dow Jones Industrial Average -9.7% YTD
Russell 2000 -14.9% YTD
NYSE Vol: 1.2B
Nasdaq Vol: 4.4B
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.
Lets go trade!