Market Update for July 30, 2018

In today's video:

1) The Technology sector sinks again for the third straight session as U.S. equities close sharply lower. The Dow Jones Industrial Average dropped 144.23 points, the S&P 500 fell 16.22 points while the Nasdaq 100 closed lower by 107.42 points and the Russell 2000 finished lower by 10.21 points.

2) Crude Oil Futures were one of the few markets that closed higher gaining $1.30 or almost 2% while Gold Futures dropped $2.40 by the official close. The Bond market traded slightly lower raising the yield on the 10-year treasury note to 2.974.

3) Many market participants believe that the steep drop in the tech stocks that we have witnessed over the past three trading sessions may just be the start of a much bigger sell-off coming near-term. Apple (AAPL) reports earnings tomorrow after-market close which could have an impact on the entire sector.

 

 

 

 

 

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

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