Market Update for December 25, 2018
In Today's Update:
1) U.S. Equities plunged again yesterday in a short but volatile trading session and is on pace for its worst December in stock market history. The Dow Jones Industrial Average dropped 653.17 or 2.91%, the S&P 500 fell 65.52 or 2.71% while the Nasdaq 100 closed lower by 140.08 or 2.21% and the Russell 2000 finished lower by 25.16%.
2) Crude Oil Futures set an 18-month low dropping another $2.91 or 6.38% while Gold Futures hit a six-month high gaining $14.40 or 1.14%. The Bond market also traded higher and the yield on the 10-year treasury note finished the day at 2.741%.
3) Stocks are officially in Bear Market territory after falling more than 20% from their highs. With numerous concerns on going like rising rates, the government shutdown, and the potential escalation of a full-scale trade war between U.S. and China, the only question should be can we bounce from here, and if so, how high and can it be sustained.
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
