Market Report for Nov 22 2020
Always look for an area of little interest to catch a bid.
Nasdaq Composite +32.1% YTD
S&P 500 +10.1% YTD
Russell 2000 +7.0% YTD
Dow Jones Industrial Average +2.5% YTD
NYSE Vol: 952 mln (B)
Nasdaq Vol: 5.3 bln (A)
Portfolio % of Return:
FX & Comms: +2.25 +Gold
While we cannot confirm a sector rotation just yet, there is certainly bullish movement in small caps and some value stocks. Tech looks like it is only temporarily out of favour as it is showing resilience to any pressure.
The VIX increase at the end of Friday’s session is something to be conscious of but not too concerned right now.
We may continue to see noise near term. Keep an eye on last weeks Doji extremes for a follow-through in that direction, assuming no fake breakout.
Have a good trading week.
Let’s go trade!