Market Report for Oct 28 2020
What we are seeing with volatility is exactly what we should be seeing. So while some traders outside of Dynamic Trader may find this very unnerving, we would be more worried if the market was behaving calmly at this moment.
Nasdaq Composite +27.4% YTD
S&P 500 +5.0% YTD
Dow Jones Industrial Average -3.8% YTD
Russell 2000 -4.7% YTD
NYSE Vol: 796 mln
Nasdaq Vol: 3.0 bln
Portfolio % of Return:
FX & Comms: +2.25
A tight ranged session which suggests no major bulls were in play and we might see some more downside or at least handing around the 50ma. VIX is up again slightly at 33.25 and the volatility pre-election is certainly showing its hand. So once again, standing aside is the order of the day.
The leading sectors were communication and tech. Will we need this area to lift the rest of the market once again? It depends on how earnings fair. We are approaching halfway through the week so continue to watch this busy earnings period where 30% of the S&P 500 continues to report over the next three days.
Continue to stand on the sidelines and watch the volatility and noise consume the market.
Let’s go trade!