Market Update for December 9, 2018
In Today's Update:
1) Wall Street closed out another roller coaster week in the red as stocks swipe out gains for the year. The Dow Jones Industrial Average dropped 588.72 or 2.24%, the S&P 500 fell 62.87 or 2.33% while the Nasdaq 100 closed lower by 219.01 or 3.05% and the Russell 2000 finished lower by 29.32 or 1.98%.
2) Crude Oil Futures gained $0.64 or 1.24% after OPEC and allies reached a deal to cut output while Gold Futures hit a five-month high as the dollar continues to drop. The Bond market closed slightly higher and the yield on the 10-year treasury note finished the week at 2.852%.
3) The Equity markets took another big hit this week but how can we tell if this is just another pullback or if the market is about to take a much bigger drop? In today's video, we will analyze the four main Equity Index charts along with the charts of several different sectors for a much broader view of the market.
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
