Market Report for May 26 2020
Video length: 35 mins
Nasdaq Composite +3.9% YTD
S&P 500 -8.5% YTD
Dow Jones Industrial Average -14.3% YTD
Russell 2000 -18.8% YTD
NYSE Vol: 720M
Nasdaq Vol: 3.6B
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.
Lets go trade!