Market Report for May 15 2020
Nasdaq Composite -0.3% YTD
S&P 500 -11.7% YTD
Dow Jones Industrial Average -17.2% YTD
Russell 2000 -25.8% YTD
NYSE Vol: 1.1B
Nasdaq Vol: 3.9B
Financials came back late into the session yesterday, even after a poor jobless claims report and VIX decreased.
Its very early but S&P 500, Dow 30, Russell 2000 all are showing signs of a potential DB forming. Nasdaq might be a BuF. This indication would be confirmed if we have a BaC above the neckline. A break below yesterdays low would not change that necessarily unless price accelerates below support.
Lots of high impact news due out today, such as Retail Sales and we can expect the figures to be negative. This will no doubt have a say in the market but it will be dependent on how the market reacts to this news today. So far it has been resilient as we saw with NFP.
Have a good weekend
Lets go trade!