Market Report for May 01 2020

New Positions:
None

Trade Zones:
None

Market Trend:
Up

Market YTD:
Nasdaq Composite -0.9% YTD
S&P 500 -9.9% YTD
Dow Jones Industrial Average -14.7% YTD
Russell 2000 -21.5% YTD

Market Volume:
NYSE Vol: 1.5B
Nasdaq Vol: 4.3B

Key U.S. News:
Auto Sales
Truck Sales
ISM Manufacturing Index

Comments:
The end of April’s saw some big tech companies provide Earnings. Yesterday AAPL and AMZN released there’s which failed to impress and has subsequently driven the Futures market down overnight.

Dow Futures 5am UK time is -299

As I mentioned yesterday, lots of U.S. news was due out today so be prepared for any bearishness should they fail to beat expectation. And today we need to stand aside today, watch for a pullback in this market. The first level of support for S&P 500 is around 2850.

Have a good weekend.

Lets go trade!