Market Update for July 23, 2018

In today's update:

Bullets: 1) U.S. equities closed mixed today after another low-volume trading day on Wall Street. The Dow Jones Industrial Average dropped 13.83 points, the S&P 500 added 5.15 points while the Nasdaq closed higher by 21.67 points and the Russell 2000 finished higher by 1.61 points.

2) Crude Oil Futures ignored increasing tensions between the U.S. and Iran and traded slightly lower while Gold Futures gave up another $7.10 after the U.S. dollar recovered approximately one third of Friday's losses. The second straight day of sharp losses for the Bond market resulted in a steep rise in the yield of the 10-year treasury note.

3) Google announced much better-than-expected earnings after market close and is being rewarded for it but the financial sector was the real star today as Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), JPMorgan (JPM), American Express (AXP), and Goldman Sachs (GS) all closed significantly higher.




About the author

Vince Vora is the head trader at 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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