Market Update for Oct 9, 2019

In today's update:

In today's update:

1) U.S. Equity markets managed to post gains for the first time in three days after the FOMC meeting minutes left Traders guessing. The Dow Jones Industrial Average gained 181.97 or 0.70%, the S&P 500 added 26.34 or 0.91% while the Nasdaq 100 closed higher by 79.96 or 1.02% and the Russell 2000 finished higher by 6.86 or 0.47%.

2) Crude Oil Futures remained flat despite military action in Syria and rising crude inventories while Gold Futures advanced $8.10 or 0.54%. The Bond market was weak Wednesday and the yield on the 10-Year Treasury note settled at 1.579%.

3) Starbucks Corp. (SBUX) has been dropping since reaching its all-time high of $99.72 in late July and continues to look weak near-term. Having said that, the longer-term technicals still look strong. In today's video, we will discuss a potential turning point for SBUX.

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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