Hi ,

Market Report for Mar 12 2020

New Positions:
Gold @1637

Trade Zones:
Standing aside in stocks.

Market Trend:
Sideways

Market YTD:
Nasdaq Composite -11.4% YTD
S&P 500 -15.2% YTD
Dow Jones Industrial Average -17.5% YTD
Russell 2000 -24.2% YTD

Market Volume:
NYSE Vol: 1.8B
Nasdaq Vol: 4.3B

Key U.S. News:
PPI
Core PPI

Comments:
Dow falls 5.9% and closes in bear market territory amid pandemic fears which does not seem to be subsiding.

If the other major averages fall into bear territory (20% from their highs) and below their DVIs then we may possibly start to look at shorts. However, shorts should only be taken after price set ups.
FX is continuing to look appealing so and trends are emerging. While this may not provide the same rate of momentum as we have experienced 10 years ago, there is certainly more momentum than we have had in the last few years.

Lets go trade!