MaR Sep 18 2020

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Market Report for Sep 18 2020

Trade using your eyes and ignore the noise

Ignore the noise and trade based on what you see.

Trade Zones:
Stand aside today

Market Trend:
Up

Market YTD:
Nasdaq Composite +21.6% YTD
S&P 500 +3.9% YTD
Dow Jones Industrial Average -2.2% YTD
Russell 2000 -7.5% YTD

Market Volume:
NYSE Vol: 1.1 bln
Nasdaq Vol: 3.7 bln

New Positions:
None

Portfolio % of Return:
Stocks: +339.17
FX & Comms: +6.19 – no open positions at present

PORT Sep 18 2020

Comments:
A bearish day yesterday confirming the flat period we were looking for near-term as mentioned on the weekly webinar. The S&P 500 tagged the 50ma and is back to where it was a week ago. Volume on the NYSE was slightly high and we can attribute that to the sellers in the market yesterday.

Don’t try to second guess what will happen next, let price dictate our actions. Other than AAPL, we have continued to stand aside and watch the tree shaking until we get to a point that changes or we move into October.

Our biggest winner was SFM which closed with a BuRPI at the DVI. Our biggest loser was TSLA which has a BuF within a C&H.

Have a great weekend.

Lets go trade!