Market Report for Sep 16 2020
Nasdaq Composite +24.7% YTD
S&P 500 +5.3% YTD
Dow Jones Industrial Average -1.9% YTD
Russell 2000 -7.8% YTD
NYSE Vol: 844 mln
Nasdaq Vol: 3.7 bln
Portfolio % of Return:
FX & Comms: +8.9%
Financials suffered some losses yesterday while comms and tech gained broadly. It was a megacap led rally with Nasdaq Composite up 1.21%.
As mentioned yesterday, we are in the buying period so if are wanting to get into this market, now is the time. Markets breaking out into new ATHs makes the buying far more difficult due to noise.
AAPL unveiled the new watch and iPad as well as the Apple One subscription during yesterdays event. So there is likely to be another event which will incorporate the phone amongst other things such as the long-awaited tags. In a weeks time, TSLA have their Battery day and at the end of the month, GOOGL have their event. So watch for price actions around those times for those companies. AAPL ended the session lower by 0.5%.
We have not taken any positions as our current positions are taking the weight. We will be looking to adjust and rebalance our portfolio soon.
Lets go trade!