Market Update for Oct 7, 2019
In today's update:
1) Stocks start the week in the red after another uneventful trading session on Wall Street. The Dow Jones Industrial Average dropped 95.70 or 0.36%, the S&P 500 fell 13.22 or 0.45% while the Nasdaq 100 closed lower by 26.18 or 0.33% and the Russell 2000 finished lower by 2 .91 10.1 9%.
2) Crude Oil Futures were mostly flat on Monday while Gold Futures closed lower by $15.40 or 1.02% after a strong bounce in the U.S. dollar. The Bond market experience selling today and the yield on the 10-Year Treasury Note settled at 1.562%.
3) The U.S. dollar has been strong all year long and looks poised for another move to recent highs. $DXY, the U.S. dollar index, has a clear trend with enough momentum across multiple time-frames to reach its January 2017 high of $103.82 followed by its all-time high of $121.02.
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
