Market Report for Mar 30 2020

New Positions:
None

Trade Zones:
Still standing aside in stocks

Market Trend:
Sideways

Market YTD:
Nasdaq Composite: -16.4%
S&P 500: -21.3%
Dow Jones Industrial Average: -24.2%
Russell 2000: -32.2%

Market Volume:
NYSE Vol: 1.4B
Nasdaq Vol: 3.9B

Key U.S. News:
None

Comments:
Stocks close lower and volume has declined a little to make for less volatile a session but still high compared to the usual volume we would expect to see.

The S&P 500 chart below shows a BuE indicating strength but tagged WVI and failed, indicating resistance ahead. Daily at present is a potential BrF and not that we use this for a trend identifier, the daily is on the verge of a death cross. So with weekly displaying near term strength and daily potential weakness, there is a degree of confusion in the market so standing aside is still the best choice.

Lets go trade!