Market Report for Oct 23 2020
Trade Zones:
None
Market Trend:
Up
Market YTD:
Nasdaq Composite +28.2% YTD
S&P 500 +6.9% YTD
Dow Jones Industrial Average -0.6% YTD
Russell 2000 -2.3% YTD
Market Volume:
NYSE Vol: 843 mln (B)
Nasdaq Vol: 3.1 bln (B)
New Positions:
None
Portfolio % of Return:
Stocks: +729.66
FX & Comms: +2.25
Comments:
The noise around stimulus has been increasing while markets have been pulling back in anticipation.
We do not aim to guess what the market will do next but we use evidence presented in front of us to identify what it could do next. The market pullback, be it technical or fundamental was indicated to us last weekend and as a result, we have been standing aside. In addition, we have earnings and the election so expect noise and volatility to increase.
This will be viewed as tree shaking in the future on the charts but right now, it is a test for traders.
Have a good weekend.
Let’s go trade!