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!