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!