Market Report for May 11 2020
Video length: 45 mins
Nasdaq Composite +1.7% YTD
S&P 500 -9.3% YTD
Dow Jones Industrial Average -14.7% YTD
Russell 2000 -20.3% YTD
NYSE Vol: 909M
Nasdaq Vol: 3.7B
Key U.S. News:
A really dismal but somewhat expected employment report for April that sees a decline of 20.5M yet the market still managed to extend its weekly gains. That is mainly because many knew the report would be bad so the market was not caught off guard.
We turned bullish on April 6 2020 and the market has remained in that gear for 23 days consecutively. We have bought into the trend slowly and lightly and will continue to do so unless momentum changes.
Nasdaq closed positive for the year and unless this is a fake breakout of 9000, we should see the other indices follow its lead.
This week we will continue to buy into the trend on stocks that offer opportunities.
Lets go trade!