Market Update for August 15, 2018
In today's video:
1) U.S. equities closed mostly lower today led by Tech and Retail stocks. The Dow Jones Industrial Average dropped 137.51 points, the S&P 500 fell 21.59 points while they Nasdaq 100 closed lower by 96.78 points and the Russell 2000 finished lower by 21.91 points.
2) Crude Oil Futures dropped more than 3% after a sharp unexpected rise in the U.S. Crude stockpiles. Gold Futures also dropped sharply closing lower by almost $18.00 or 1.50% on more strength in the U.S. dollar and the Bond market traded higher dropping the yield on the 10-year treasury note to 2.860.
3) Earnings reports can be very difficult to predict and even when they appear to be better than expected they can be a disaster for the share price. Macy's reported much better than expected numbers today but lost almost 16% of its share value and is at risk of dropping much more.
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
