Market Update for January 22, 2019
In Today's Update:
1) The U.S. Equity markets snapped a 4-day win streak after the U.S. cancels a trade planning meeting with China and December Existing Home Sales plunge 4.6%. The Dow Jones Industrial Average dropped 301.87 or 1.22%, the S&P 500 fell 37.81 or 1.42% while the Nasdaq 100 closed lower by 136.87 or 1.91% and the Russell 2000 finished lower by 25.05 or 1.69%.
2) Crude Oil Futures dropped sharply and closed lower by $1.03 or 1.91% while Gold Futures advanced $1.80 or 0.14%. The Bond market posted gains sending the yield on the 10-year treasury note down to 2.739%.
3) Earnings season continues with IBM (IBM), Capital One (COF), Ameritrade (AMTD), and Interactive Brokers (IBKR) all reporting after-market close. IBM beat estimates for both earnings and 2019 guidance sending the stock higher by more than $8.00 per share or 7% in after-hours trading. AMTD was also trading higher while COF and IBKR we're both trading lower.
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
