Market Update for December 3, 2018
In Today's Update:
1) Stocks did rally but closed well off their highs of the day after news of a 90-day trade cease-fire between U.S. and China. The Dow Jones Industrial Average gained 287.97 or 1.13%, the S&P 500 added 30.20 or 1.09% while the Nasdaq 100 closed higher by 110.97 or 1.51% and the Russell 2000 finished higher by 15.68 or 1.02%.
2) Crude Oil Futures closed significantly higher gaining $2.16 or 4.24% after Canada announced plans to cut production while Gold Futures added $10.40 or 0.85% on weakness in the U.S. dollar. The Bond market traded higher again today and the yield on the 10-year treasury note settled at 2.97%.
3) Shares of Under Armour (UA) are trending higher after 2 years of steady losses. UA has jumped 15% in the past 3 months, is up 65% this year and is on track for its best year since 2013. Can it continue to climb? In today's video, we will review The daily, weekly, and monthly charts for clues.
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
