Market Update for August 6, 2018
In today's video:
1) All four of the main U.S. equity indexes closed higher but did so on lower-than-average volume. The Dow Jones Industrial Average gained 39.60 points, the S&P 500 added 10.05 points while the Nasdaq 100 closed higher by 47.66 points and the Russell 2000 finished higher by 10.94 points.
2) Gold Futures dropped sharply losing $8.20 at the official close as the U.S. dollar strengthens and inches closer to breaking out of its recent range. Crude Oil Futures gained slightly while the Bond market also traded slightly higher forcing the yield on the 10-year treasury note down to 2.945.
3) Ever since it reported quarterly earnings on July 16th, 2018 Netflix (NFLX) has been steadily dropping. Will it continue to drop or is this going to be a great buying opportunity? In today's video, we will review the daily, weekly, and monthly charts and use a Fibonacci tool to answer this very question.
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
