MaR May 07 2020

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Market Report for May 07 2020

New Positions:
None

Trade Zones:
Standing aside for NFP

Market Trend:
Up

Market YTD:
Nasdaq Composite -1.3% YTD
S&P 500 -11.8% YTD
Dow Jones Industrial Average -17.1% YTD
Russell 2000 -24.3% YTD

Market Volume:
NYSE Vol: 904M
Nasdaq Vol: 3.6B

Key U.S. News:
Initial Claims
Continuing Claims

Comments:
A late fade in the session takes down the broad market but Nasdaq continued to perform. S&P 500, Dow Jones and Russell 2000 did not manage to break above the prior days Doji high so we might see further weakness. Saying that, as of 5am UK time, Dow Future is +130 so fairly bullish as we come out of the Asian session.

Technology was the only sector to close positive.

As it is NFP Friday this week, we can stand aside and enjoy the long weekend.

Level 3 traders, we have a webinar this morning.

MAR May 07 2020

Lets go trade!