In today's update:
1) Stocks closed mixed on Monday after news that Apple (AAPL), Amazon (AMZN, Facebook (FB), and Alphabet (GOOGL) face potential antitrust probe by the Justice Department. The Dow Jones Industrial Average gained 4.74 or 0.02%, the S&P 500 fell 7.61 or 0.28% while the Nasdaq 100 closed lower by 120.13 or 1.61% and the Russell 2000 finished higher by 4.50 or 0.31%.
2) Crude Oil Futures dropped another $0.65 or 1.21% to hit a new 4-month low while Gold Futures spiked again reaching a 3-month high and closing up $18.70 or 1.43%. The U.S. dollar dropped sharply while the Bond market continued to climb and the yield on the 10-year Treasury Note settled at 2.075%.
3) The Nasdaq 100 Index suffered another big loss today due mostly to the FAANG stocks and could see a lot more downside if it fails to remain above the 6500 level. In today's video, I will explain why the Nasdaq 100 has the potential of suffering a devastating decline.