Market Update for March 17, 2019
In Today's Update:
1) U.S. Equity markets rose on Friday and posted strong weekly gains ahead of this coming week's FOMC meeting and the Fed's decision on interest rates. The Dow Jones Industrial Average gained 138.93 or 0.54%, the S&P 500 added 14.00 or 0.50% while the Nasdaq 100 closed higher by 57.62 or 0.76% and the Russell 2000 finished higher by 3.90 or 0.25%.
2) Crude Oil Futures finished the week with a small loss dropping $0.22 or 0.38% while Gold Futures added $7.20 or 0.56% after a pullback in the U.S. dollar. The Bond market showed strength on Friday and the yield on the 10-year Treasury Note finished the week at 2.592%.
3) The S&P 500 had its best week of 2019 and with this week's gains has overcome another key level of overhead resistance. The equity index is less than 4% from its all-time high, but the question is, does it have enough momentum to get back there? In today's video, we will take a closer look at the daily, weekly, and monthly charts of the S&P 500 Index.
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
