In Today's Update:
1) Another day of steep losses on Wall Street sends stocks to a 14-month low and the worst is most likely yet to come. The Dow Jones Industrial Average dropped 464.06 or 1.99%, the S&P 500 fell 39.54 or 1.58% while the Nasdaq 100 closed lower by 108.42 or 1.63% and the Russell 2000 finished lower by 23.23 or 1.72%.
2) Crude Oil Futures put in another new 52-week low dropping $1.90 or 4.07% while Gold Futures continued to climb closing higher by $7.20 or 0.57%. The Bond market traded slightly lower today and the yield on the 10-year treasury note settled at 2.809%.
3) When it comes to trading, there are many data points a trader can use to base decisions on but the single most important piece of data is the Market's closing price. The closing price is closely monitored by all Market participants and in today's video, we will discuss why tomorrow's closing price will be the most important of the year.