Market Update for April 1, 2019

In Today's Update:

1) Stronger-than-expected economic data reports out of the U.S. and China helped U.S. Equity markets get off to a strong start and close significantly higher. The Dow Jones Industrial Average gained 329.74 or 1.27%, the S&P 500 added 32.79 or 1.16% while the Nasdaq 100 closed higher by 99.59 or 1.29% and the Russell 2000 finished higher by 16.33 or 1.06%.

2) Crude Oil Futures hit its highest level in almost five months closing higher by $1.56 or 2.59% while Gold Futures dropped $6.80 or 0.52% and the U.S. dollar was flat after recovering from earlier losses. The Bond market moved sharply lower and the yield on the 10-year Treasury Note jumped to 2.505%.

3) Keep an eye on Gold Futures, there is a key test of the 1280 support level coming up. The daily chart is flashing a potential sell signal that will kick-in if the 1280 level is violated and the Head and Shoulders pattern is confirmed, but the weekly and monthly charts are showing the potential for a longer-term move to the upside. Who will win this battle, buyers or sellers?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About the author

Vince Vora is the head trader at TradingWins.com. Over the last three decades, he has been trading and refining his trading systems that are based on technical analysis and price action. Over the last few years, his focus has been on teaching people how to become better traders. His systems range from simple to sophisticated and can be used in any market conditions to trade stocks, options, futures and forex. By: TradingWins Team

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