Market Update for August 13, 2018
In today's video:
1) The financial crisis in Turkey continue today as both its stock market & currency dropped putting pressure on equity markets around the world. The Dow Jones Industrial Average dropped 125.44 points, the S&P 500 fell 11.35 points while the Nasdaq 100 closed lower by 19.40 points and the Russell 2000 finished lower by 11.49 points.
2) Crude Oil Futures closed lower my $0.32 today while Gold Futures dropped much more sharply closing lower by $18.00 or 1.48%. The Bond market traded slightly lower and the yield on the 10-year treasury note held steady at 2.875.
3) The U.S. dollar went on a roller coaster ride selling off hard this morning but bounced back in the afternoon session to trade above Friday's close. This sent the price of gold spiraling lower. The question is, how low can it go?
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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
