Market Report for Sep 24 2020
Nasdaq Composite +18.5% YTD
S&P 500 +0.2% YTD
Dow Jones Industrial Average -6.2% YTD
Russell 2000 -13.0% YTD
NYSE Vol: 1 bln
Nasdaq Vol: 4 bln
Portfolio % of Return:
FX & Comms: +2.25
The market never managed to gain any traction today and finished sharply lower. The S&P closed lower 2.4%, down 5 of the last 6 days and near its lows of the session. The Nasdaq Composite down 3% and the Dow Jones Industrial Average ended down 1.9%.
All 11 S&P sectors ended lower with no leaders anywhere to be seen.
Our Gold position stopped out for a loss yesterday/overnight and we now do not have any positions in FX or Comms.
If we break lower from these areas, the trend will turn from bullish to flat and we may then need to consider pruning or worse, bring out the axe. For now, we are still bullish, waiting and watching for the opportunities when other traders exits are being hit.
Lets go trade!