Market Update for July 9, 2018

In today's update:

1) The Technology sector continues to do well but today was all about Financials as stocks closed sharply higher. The Dow Jones Industrial Average gained 320.11 points, the S&P 500 added 24.35 points while the Nasdaq 100 closed higher by 67.81 points and the Russell 2000 finished higher by 10.55 points.

2) Commodities also trading higher today as Gold Futures gained $2.90 while Crude Oil Futures added $0.22. The Bond market dropped sharply pushing the yield on the 10-year treasury note back up to 2.859 and the U.S. dollar erased earlier losses and is now trading slightly higher.

3) This Market continues to ignore fears of a potential trade war and one sector that proved that today was banking. Just about every stock in this sector posted sharp gains today led by the likes of Citigroup (C), Bank of America (BAC), and Wells Fargo (WFC).

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

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