MaR Mar 04 2020

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Market Report for Mar 04 2020

New Positions:

Trade Zones:
Stand aside

Market Trend:

Market YTD:
Nasdaq Composite -3.2% YTD
S&P 500 -7.0% YTD
Dow Jones Industrial Average -9.2% YTD
Russell 2000 -10.9% YTD

Market Volume:
NYSE Vol: 1.65B
Nasdaq Vol: 4.29B

Key U.S. News:
EIA Crude Oil Inventories

Even though the Federal Reserve made an emergency 50 basis point rate cut, stocks could not hold their gains yesterday and the market dropped off. The 1 hour S&P 500 failed at 50MA and declined for most of the session.

Volatility is still high so there is no point trying to enter into trades with low probability. Stand aside and watch the bulls and bears fight it out.

Gold has risen again yesterday and FX is again showing momentum. So watch the money coming into these areas if it comes out of stocks.

MAR Mar 04 2020

Lets go trade!