Market Update for January 23, 2019
In Today's Update:
1) The Dow posts a triple-digit gain after strong earnings reports while the other three main equity indices show mixed results. the Dow Jones Industrial Average gained 171.14 or 0.70%, the S&P 500 added 5.80 or 0.22% while the Nasdaq 100 closed higher by 5.41 or 0.08% and the Russell 2000 finished lower by 3.20 or 0.22%.
2) Crude Oil Futures closed lower again today as did Gold Futures dropping $1.30 or 0.10%. The Bond market traded flat and the yield on the 10-year treasury note settled at 2.742%.
3) Tesla (TSLA) has always been a difficult stock to trade but their latest announcement has made it nearly impossible. Last Friday, the company announced its second round of layoffs and today more details revealed that model S and X staff were slashed. Shares of TSLA closed lower by $11.33 per share or 3.79%.
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
