Market Update for March 27, 2019
In Today's Update:
1) Stocks closed mostly lower after a roller coaster session on Wall Street Wednesday. The Dow Jones Industrial Average dropped 32.14 or 0.13%, the S&P 500 fell 13.09 or 0.46% while the Nasdaq 100 closed lower by 48.15 or 0.63% and the Russell 2000 finished lower by 5.93 or 0.39%.
2) Crude Oil Inventories dropped back by $0.54 or 0.90% while Gold Futures gave back $6.60 or 0.50% on more strength in the U.S. dollar. The Bond market continued to soar and the yield on the 10-year treasury note fell to its lowest level since 2017 and settled at 2.383%.
3) After market close, Lululemon (LULU) released quarterly earnings and beat on both earnings and revenue while also announcing positive forward guidance. If LULU moves above its March 1st High of $153.95 it will most likely test its all-time high of $164.79. Shares of LULU were trading higher by $13.35 or 9.09% 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
