Market Update for January 21, 2019
In Today's Update:
1) Stocks closed significantly higher and the U.S. Equity markets posted their first 4-week winning streak since August of last year after a report of potential progress in trade talks between the U.S. and China. The Dow Jones Industrial Average gained 336.25 or 1.38%, the S&P 500 added 34.75 or 1.32% while the Nasdaq 100 closed higher by 72.76 or 1.03% and the Russell 2000 finished higher by 15.25 or 1.04%.
2) Crude Oil Futures closed slightly higher while Gold Futures slipped and finished lower by $2.60 or 0.20% on signs of strength in the U.S. dollar. The Bond market traded lower on Friday and the yield on the 10-year treasury note edged higher to 2.786%.
3) The equity markets will be closed on Monday in observance of Martin Luther King Jr Day. The short week ahead will be a quiet one for economic data reports but will be another active week for quarterly earnings reports.
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
