Market Report for May 14 2020

New Positions:
None

Trade Zones:
None

Market Trend:
Up

Market YTD:
Nasdaq Composite -1.2% YTD
S&P 500 -12.7% YTD
Dow Jones Industrial Average -18.5% YTD
Russell 2000 -26.1% YTD

Market Volume:
NYSE Vol: 1.1B
Nasdaq Vol: 4.2B

Key U.S. News:
Initial Claims
Continuing Claims

Comments:
After the cautious comments from Fed Chair, stocks closed lower.

The Dow 30 fell 2.17% and Nasdaq 1.55% so bearish all round. The S&P 500 lost 1.8% yesterday. It is safe not to trade until we have a bullish day and then it will depend on the RPI. The support levels mentioned in yesterdays post Market Pullback, we saw price reach that zone and closed @2820. You can read the post from the link below.

Lets go trade!