1) Today's Federal Reserve rate cut falls flat as U.S. Equity markets reverse early gains and close significantly lower. The Dow Jones Industrial Average dropped 785.91 or 2.94%, the S&P 500 fell 86.86 or 2.81% while the NASDAQ 100 closed lower by 268.08 or 2.99% and the Russell 2000 finished lower by 32.45 or 2.14%.
2) Crude Oil Futures bounced slightly and closed higher by $0.43 or 0.9% while Gold Futures spiked $42.00 or 2.63% on more weakness in the U.S. dollar. The Bond market rallied hard and the yield on the 10-Year Treasury Note settled at 1.009%.
3) Traders and Investors will be watching tonight's Super Tuesday voting results very closely. There are 1344 delegates up for grabs and if Bernie Sanders wins the majority the Equity markets are likely to sell off tomorrow. However, a Joe Biden majority could cause Equity markets to Rally.
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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