MaR May 26 2020

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Market Report for May 26 2020

Video length: 35 mins

New Positions:
None

Trade Zones:
ALRM
AMD
APPF
AUDC
BLD
CLX
CNC
DG
DT
FB
GLOB
GSX
HLNE
LULU
PLMR
RBA
RNG
SAIC
SGEN
UI
VIPS
WMS

Market Trend:
Up

Market YTD:
Nasdaq Composite +3.9% YTD
S&P 500 -8.5% YTD
Dow Jones Industrial Average -14.3% YTD
Russell 2000 -18.8% YTD

Market Volume:
NYSE Vol: 720M
Nasdaq Vol: 3.6B

Comments:
In the UK and US, we have a long weekend so no trading until Tuesday.

Stocks closed a slightly volatile week higher. Nasdaq Composite claimed back the losses from earlier in the year and is now +3.9% YTD.

The S&P 500 gained slightly on last week but is still some 8% away from break-even. Waiting for the breakout of the DVI on this index is testing us all but during this period it is best to just be patient and wait as we are too close to the cluster resistance (DVI, w50MA, 3000RN) zone to take new positions. Having said that, we do have a minor DB on the daily indicating strength do expectation is for price to continue this upward journey at some point.

MAR May 23 2020

Lets go trade!