Market Update for February 18, 2019
In Today's Update:
1) Bank stocks stepped up with big gains on Friday helping Equity markets post gains for the eighth straight week. The Dow Jones Industrial Average gained 443.86 or 1.74%, the S&P 500 added 29.87 or 1.09% while the Nasdaq 100 closed higher by 45.46 or 0.61% and the Russell 2000 finished higher by 24.14 or 1.56%.
2) U.S. Crude Oil Futures managed to gain $0.34 or 0.61% on Friday while Gold Futures closed at a two-week high gaining $7.30 or 0.55% after a drop in the U.S. dollar. The Bond market moved slightly higher and the yield on the 10-year treasury note closed out the week at 2.666%.
3) As we mentioned last week, if this rally in the Equity market is going to continue we need Banks and Financials to lead the way. Some of the biggest names in the banking sector did just that on Friday. In today's video, we will review five of the top Bank stocks making big moves.
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
