Market Report for Sep 11 2020
Looking for trend signals in important. Right now we have little in the way that suggests we will have a trend up other than seasonal behaviour 50ma.
Nasdaq Composite +21.7% YTD
S&P 500 +3.4% YTD
Dow Jones Industrial Average -3.5% YTD
Russell 2000 -9.6% YTD
NYSE Vol: 911.2 mln
Nasdaq Vol: 3.8 bln
Portfolio % of Return:
FX & Comms: +5.37
What we are witnessing is what we are expecting for September. Tree shaking forcing stops to be hit before recommencing the trend. It is good for the market to pause here so we should wait and see what unfolds. As I mentioned previously, taking profit here is ok by selling into strength
Nasdaq Composite is the only one that has physically tagged the 50ma but the S&P 500 and Dow Jones Industrial Average are in proximity of theirs.
Stand aside and wait for the market to show its hand first.
Lets go trade!