Market Update for August 8, 2018

In today's video:

1) The NASDAQ Composite Index completed its seventh straight training session with gains on a day where most stocks closed lower. The Dow Jones Industrial Average dropped 45.16 points, the S&P 500 fell 0.75 points while the Nasdaq 100 closed higher by 4.66 points and the Russell 2000 finished lower by 1.42 points.

2) Crude Oil Futures closed significantly lower today dropping $2.42 or 3.48% as U.S. - China trade tensions escalate. Gold Futures closed higher as the U.S. dollar experienced some weakness and the Bond market traded slightly higher resulting in a minor drop in the yield on the 10-year treasury note which is now at 2 964.

3) Earlier this week we talked about the potential for a major long setup forming on the chart of Netflix (NFLX). Today, we will review The daily, weekly, and monthly charts of Facebook to highlight the major levels to watch and potential trade opportunities ahead.

 

 

 

 

 

 

 

 

 

 

 

 

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

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