Market Report for May 13 2020
New Positions:
None
Trade Zones:
None
Market Trend:
Up
Market YTD:
Nasdaq Composite +0.3% YTD
S&P 500 -11.2% YTD
Dow Jones Industrial Average -16.7% YTD
Russell 2000 -23.6% YTD
Market Volume:
NYSE Vol: 940M
Nasdaq Vol: 4.3B
Key U.S. News:
MBA Mortgage Application Index
PPI
Core PPI
EIA Crude Oil Inventories
Comments:
Stocks have had a lot of profit-taking yesterday which could not transition into a pullback. Stand aside and watch the market reaction today. There is quite a lot of high impact news today to push the market further down or possibly sway the market.
If the market falls further, a 5% decline is not out of the question. In which case, buying the dips may provide opportunities.
Let the market dictate our actions.
Lets go trade!