Market Update for February 24, 2019
In Today's Update:
1) The Dow completed a 9-week win streak and closed above 26000 for the first time since last November as equities continue to post gains. The Dow Jones Industrial Average gained 181.18 or 0.70%, the S&P 500 added 17.79 or 0.64% while the Nasdaq 100 closed higher by 67.84 or 0.91% and the Russell 2000 finished higher by 14.51 or 0.92%.
2) Crude Oil Futures advanced slightly Friday but gained 3% for the week on OPEC supply cuts while Gold Futures managed to close higher by $2.90 or 0.22% on slight weakness in the U.S. dollar. The Bond market rebounded Friday and the yield on the 10-year treasury note dropped to 2.653%.
3) This will be a huge week for news that will almost certainly impact Wall Street. From Michael Cohen's testimony before the House panel on Wednesday to the ongoing trade negotiations between U.S. and China ahead of Friday's deadline and a slew of Economic Data reports, this week should be anything but quiet.
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
