Market Update for May 1, 2019

In today's update:

In today's update:

1) U.S. Equity markets remain nervous after Federal Reserve Chairman Jerome Powell killed the rally with one word. The Dow Jones Industrial Average dropped 162.77 or 0.61%, the S&P 500 fell 22.10 or 0.75% while the Nasdaq 100 closed lower by 45.75 or 0.57% and the Russell 2000 finished lower by 14.83 or 0.93%.

2) Crude Oil Futures dropped $0.32 or 0.50% while Gold Futures fell $8.00 or 0.62% after a strong rally in the U.S. dollar. The Bond market did post a gain but closed well-off its daily high and the yield on the 10-year Treasury Note settled at 2.506%.

3) The trading day kicked off with good news this morning as the ADP Employment report revealed 275,000 new private-sector jobs compared to an expected increase of 187,000. The afternoon trading session turned negative after the Federal Reserve said that "the current state of low inflation is transitory" and the negativity continued after market close as Square Inc. (SQ) beat estimates but lowered future guidance and is currently trading lower by $4.77 or 6.48%.


































































































































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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