Market Update for January 9, 2019
In Today's Update:
1) Stocks extend win streak to four straight days after the FED meeting minutes confirm patience with future rate hikes. The Dow Jones Industrial Average gained 91.67 or 0.39%, the S&P 500 added 10.55 or 0.41% while the Nasdaq 100 closed higher by 60.08 or 0.87% and the Russell 2000 finished higher by 12.25 or 0.86%.
2) Crude Oil Futures jumped again closing higher by $2.48 or 4.98% on added hopes of a new trade deal between the U.S. and China while the U.S. dollar traded lower sending Gold higher by $8.80 or 0.68%. The Bond market also posted gains and the yield on the 10-year treasury note settled at 2.712%.
3) With Crude Oil on the rise many energy-related companies are getting a lot of attention from traders and investors. Today, it was Chesapeake Energy stock that was flooded with buy orders after the company reported some preliminary data from its fourth quarter of 2018. Shares of CHK closed higher by $0.31 or 12.65%.
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
