Market Update for July 19, 2018
In today's update:
1) Stocks closed mostly lower today led by the financial sector after Donald Trump criticized the Federal Reserve for raising rates. The Dow Jones Industrial Average dropped 134.79 points, the S&P 500 fell 11.13 points while the Nasdaq 100 closed lower by 29.15 points and the Russell 2000, known as the small-cap index, actually gained 9.44 Points.
2) Crude Oil futures gained a little over 1% today on news of falling stockpiles while Gold Futures dropped sharply early in the day but closed well-off it's low as the dollar weakened. Bonds bounced today sending the yield on the 10-year treasury note back down to 2.840.
3) The U.S. dollar Index hit a new 52-week high intraday before falling back and closing just slightly higher than yesterday's close. From a technical analysis perspective, the dollar is at a very important inflection point. We will discuss this in detail in today's video.
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
