Market Report for May 27 2020
Nasdaq Composite +4.1% YTD
S&P 500 -7.4% YTD
Dow Jones Industrial Average -12.4% YTD
Russell 2000 -16.5% YTD
NYSE Vol: 1.1B
Nasdaq Vol: 4.4B
Stocks extended their bullish trend but lost steam towards the session close and the S&P 500 ended below its DVI. This morning Futures are bullish.
The market seems to have optimism with the US economy re-opening and with the vaccine progression.
Nasdaq is still leading the way but we may start to see a rotation come into play which means tech stocks may have a rest in the form of a BuF or consolidation. XLY is now in the leading quadrant.
We are in a period of the market where leading stocks have done their job and now other stocks may take over. Stocks you already own you may need to be patient with. Energy has made the biggest improvement.
Lets go trade!