Market Update for August 29 2018
In today's video:
1) Big Technology names help push U.S. equities into uncharted territory once again as the S&P 500 and the Nasdaq 100 close at fresh new all-time highs. The Dow Jones Industrial Average gained 65.55 Points, the S&P 500 added 16.52 points while the Nasdaq 100 closed higher by 79.65 points and the Russell 2000 finished higher by 6.33 points.
2) Crude Oil Futures spiked today gaining $1.18 or 1.72% after a decline in U.S. Crude Oil stockpiles while Gold Futures dropped slightly closing lower by just $1.70. The Bond market was flat and the yield on the yield on the 10-year treasury note held steady at 2.878.
3) Advanced Micro Devices (AMD) has more than doubled in price since the start of the year and is still trending strongly upward. While at first glance it might look overbought and due for a pullback, there is one indicator that would suggest otherwise.
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
