MaR Oct 07 2020

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Market Report for Oct 07 2020

Traders that are too cautious

Trade Zones:
BL – already hold a position
IAA
ROCK
SAGE

Market Trend:
Up

Market YTD:
Nasdaq Composite +24.3% YTD
S&P 500 +4.0% YTD
Dow Jones Industrial Average -2.7% YTD
Russell 2000 -5.5% YTD

Market Volume:
NYSE Vol: 991.5 mln (A)
Nasdaq Vol: 4.3 bln (A)

New Positions:
SNOW @240.10

Portfolio % of Return:
Stocks: +587.67
FX & Comms: +2.25

PORT Oct 07 2020

Comments:
The first few hours Tuesday’s session was very bullish and looking good for a strong finish as it was about to hit the highs of the day. Then came the Trump tweet and everything changed. The S&P 500 fell 1.4%, the Nasdaq Composite fell 1.6% and Dow Jones Industrial Average fell 1.3%. The market changed from being in a good mood to a bad mood in just a moment.

Just a day after returning from the hospital, the President tweeted that he would refuse to pass a new economic rescue package drafted by the Democrat-controlled House of Representatives.

All the majors are back to their 50ma.

AAPL confirmed their event on October 13 which is almost certainly going to incorporate the new iPhones including their 5G contender amongst other products such as the rumoured air tags.

Time to go shopping.

Lets go trade!