Market Update for July 31, 2018
In today's video:
1) Buyers stepped back in after news that both the U.S. and China are willing to talk and potentially settle their trade dispute. The Dow Jones Industrial Average gained 108.36 points, the S&P 500 added 13.69 points while the Nasdaq 100 closed higher by 41.78 points and the Russell 2000 finished higher by 17.67 points.
2) Crude Oil Futures ran into overhead resistance and closed lower by $1.37 or 2% while Gold Futures reversed yesterday's loss and gained $2.10 by the official close. The Bond market showed some strength today knocking the yield on the 10-year treasury note back down to 2.956 while the U.S. dollar index closed slightly higher against a basket of six other currencies.
3) Apple Computer (AAPL) is doing its part to help the technology sector recover from steep losses earlier this week. The company announced better-than-expected quarterly earnings today and is currently being rewarded. The stock is trading higher by $5.95 or 3.16% in the after-hours trading session.
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
