Market Update for August 19, 2018
In today's video:
1) There was buying across-the-board on Friday as Equities, Commodities, and Bonds all closed higher. The Dow Jones Industrial Average gained 110.59 points, the S&P 500 added 9.44 points While the Nasdaq 100 closed higher by 9.81 points and the Russell 2000 finished higher by 7.19 points.
2) Crude Oil Futures gained $0.46 on Friday but posted its seventh straight weekly loss while Gold Futures close higher by $7.80 after a drop in the U.S. dollar. The Bond market traded slightly higher and the yield on the 10-year treasury note closed at 2.859.
3) If I can only give someone one piece of trading advice, it would be to trade a clean trending chart. There are so many trading losses that could be avoided by following this one simple rule and this week Tesla (TSLA) is once again a perfect example of a loss that could have been avoided.
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
