Market Update for April 21, 2019
In Today's Update:
1) U.S. Equity markets struggled to post gains on Friday despite stronger-than-expected Chinese economic data. The Dow Jones Industrial Average gained 110.00 or 0.42%, the S&P 500 added 4.58 or 0.16% while the Nasdaq 100 closed higher by 1.98 or 0.02% and the Russell 2000 finished lower by 1.85 or 0.12%.
2) Crude Oil Futures gained $0.24 or 0.38% after a drop in U.S. Crude stockpiles while Gold Futures still managed a small gain despite a strong rally in the U.S. dollar. The Bond market also showed strength Friday and the yield on the 10-year Treasury Note settled at 2.564%.
3) Pier 1 Imports (PIR) has announced plans to close up to 145 stores and cut more than $100 million in costs in an effort to save the company. PIR was worth more than $2 billion as recently as 2014 but is now only worth $55 million. In today's video, we will review the daily, weekly, and monthly charts of PIR and discuss if it might be worth betting on a potential recovery.
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
