Market Update for December 23, 2018
In Today's Update:
1) U.S. Equities plunged again on Friday and violated a key technical level after Peter Navarro, Donald Trump's Trade Advisor, said it would be very difficult for the U.S. and China to reach a permanent Trade Agreement after the 90-day cease-fire. The Dow Jones Industrial Average dropped 414.23 or 1.81%, the S&P 500 fell 50.80 or 2.06% while the Nasdaq 100 closed lower by 195.41 or 2.99% and the Russell 2000 finished lower by 33.92 or 2.56%.
2) Crude Oil Futures dropped another $0.46 or 1% on Friday and was down 11% for the week while Gold Futures fell $8.80 or 0.69% after a rally in the U.S. dollar. The Bond market was flat and the yield on the 10-year treasury note closed at 2.783%.
3) Normally, the final week of December would be one of the slowest weeks of the year but this year that will be highly unlikely. As the selling accelerates and panic sets-in expect volume and overall volatility to increase. In today's video, we will discuss the main things to focus on this holiday week.
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
