Market Update for October 9, 2018
In Today's Update:
1) U.S. equities end the day mostly lower after a choppy session with higher-than-average volume. The Dow Jones Industrial Average dropped 56.21 points, the S&P 500 fell 4.09 points while the Nasdaq 100 closed higher by 2.07 points and the Russell 2000 finished lower by 7.65 points.
2) U.S. Crude Oil Futures traded slightly higher as Iran's oil exports fall and Gold Futures edged higher by $4.60 or 0.39%. The Bond market rallied today and the yield on the 10-year treasury note dropped back to 3.204%.
3) Shares of Starbucks (SBUX) rose more than 2% today after it was revealed that activist investor bill Ackman's fund, Pershing Square Capital has purchased a $900 million stake in the company. The million-dollar question is, will SBUX continue to climb? In today's video, we will review the daily, weekly, and monthly charts and reveal the key levels to watch for the next breakout.
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
