New post
Jeen Hao
June 5 10:51

US market has a head start in June

The US stock market moved higher during the second half of May 2020, breaking April's high. This month, the US market just had a head start.
DJIA has broken above 26,000 level, breaking May's high and the S&P 500 on the other hand is also strong, closing above 3,100. Nasdaq is the strongest among all, trading at near its all-time high.
In a short-run, we might be seeing a short-term pullback to their nearest support levels. However, from trend following perspective, the market is definitely bullish right now and carries higher probability to go up. 
Traders should focus more on stocks that are stronger than the market, for instance, there are two types of stocks that we would focus:
1) Stocks that have already recovered from the previous flash crash, i.e. $NVDA, $ADBE
2) Stocks that are not affected by the previous crash, i.e. $ZM, $SE