1) Financial crisis in Turkey on Friday brought fear back into the equity markets resulting in significant losses. The Dow Jones Industrial Average dropped 196.09 points, the S&P 500 fell 20.30 points while the Nasdaq 100 closed lower by 52.67 points and the Russell 2000 finished lower by 4.08 points.
2) Crude Oil Futures gained $0.94 or 1.41% on Friday but posted its sixth straight weekly loss while Gold Futures closed slightly lower down just $0.70. Investors were seeking safety on Friday sending the Bond market higher and the yield on the 10-year treasury note down to 2.871.
3) The U.S. dollar spiked Friday on news that the Trump Administration decided to double metals tariffs on Turkey. This caused the U.S. Dollar Index to breakout of its recent range and set it up for a move toward $100.00.
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
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