Market Update for Oct 21, 2019
In today's update:
1) U.S. Equity markets kick-off the week with modest gains ahead of several major earnings announcements. The Dow Jones Industrial Average gained 57.44 or 0.21%, the S&P 500 added 20.52 or 0.69% while the NASDAQ 100 closed higher by 73.44 or 0.91% and the Russell 2000 finished higher by 14.66 or 0.95%.
2) Crude Oil Futures continued to show weakness losing $0.34 or 0.63% while Gold Futures dropped $7.10 or 0.48% after a slightly higher close for the U.S. dollar. The Bond market finished lower and the yield on the 10-Year Treasury Note settled at 1.805%.
3) Shares of Boeing Co. (BA) experienced more selling pressure on Monday closing lower by $12.94 or 3.76% and is nearing a very critical level of support. BA needs to remain above $310.00 or it is in real Jeopardy of breaking support and dropping to as low as the $150.00 level.
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
