Market Report for Mar 05 2020
New Positions:
None
Trade Zones:
None due to NFP
Market Trend:
Sideways
Market YTD:
Nasdaq Composite +0.5% YTD
S&P 500 -3.1% YTD
Dow Jones Industrial Average -5.1% YTD
Russell 2000 -8.2% YTD
Market Volume:
NYSE Vol: 1.23B
Nasdaq Vol: 3.55B
Key U.S. News:
None
Comments:
The market rallied on Wednesday with the Dow (+4.5%), Nasdaq (+3.9%), and S&P 500 (+4.2%) erasing their losses from Tuesday. The S&P 500 back above DVI but the Dow 30 and Russell 2000 are currently lagging. We are still in a sideways market so be careful with taking new trades. The recommendation is to reduce the size of new positions.
Our current positions are AMD, WMS and Gold.
With NFP due on Friday, it is another stand aside day. Happy prekend.
Lets go trade!