MaR Nov 08 2020

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Market Report for Nov 08 2020

You must look back to look ahead

Use the evidence in front of you to to understand what is ahead of you.

Video length: 47 mins

Trade Zones:
SNAP
TGT

Market Trend:
Up

Market YTD:
Nasdaq Composite +32.6% YTD
S&P 500 +8.6% YTD
Dow Jones Industrial Average -0.8% YTD
Russell 2000 -1.5% YTD

Market Volume:
NYSE Vol: 927 mln (B)
Nasdaq Vol: 4.1 bln (A)

New Positions:
None

Portfolio % of Return:
Stocks: +911.26
FX & Comms: +2.25

PORT Nov 07 2020

Comments:
A flat finish on Friday on the S&P 500 and Nasdaq Composite while the Dow Jones Industrial Average lost a quarter percent. This after NFP came in better than expected and the election is drawing to a conclusion.

NFP increased by 638k while the consensus was 530k. The unemployment rate was 6.9% vs 7.9% in September. This is good news but it could also mean now that there is six consecutive months of what looks like a recovery, the stimulus deal might be smaller. If that is the case, how the market will react to this we will have to wait and see.

From Monday we can openly look to buy into the market if set ups show up.

Let’s go trade!