Market Update for Aug 5, 2019
In today's update:
1) Stocks around the world fell sharply on Monday after an escalation in the trade war between the U.S. and China and a plunge in the Chinese yuan. The Dow Jones Industrial Average dropped 767.27 or 2.90%, the S&P 500 fell 87.31 or 2.98% while the NASDAQ 100 closed lower by 278 .03 or 3.47% and the Russell 2000 finished lower by 46.25 or 3.02%.
2) Crude Oil Futures dropped $0.97 or 1.74% on demand concerns while Gold Futures spiked $19.10 or 1.31% after a steep drop in the U.S. dollar. The Bond market Soared and the yield on the 10-year Treasury Note settled at 1.712%.
3) It was a horrible start to the week and the fourth straight day of losses for U.S. Equities, so where do we go from here? In today's video, we will highlight two key levels to watch and discuss how one of these will determine the next major move for U.S. stocks.
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
