Market Update for March 4, 2019
In Today's Update:
1) Stocks closed well off their lows but still finished the day significantly lower despite a likely trade resolution between the U.S. and China. The Dow Jones Industrial Average dropped 206.67 or 0.79%, the S&P 500 fell 10.88 or 0.39% while the Nasdaq 100 closed lower by 17.79 or 0.23% and the Russell 2000 finished lower by 14.20 or 0.89%.
2) Crude Oil Futures managed to gain $0.62 or 1.11% while Gold Futures fell further closing lower by $11.60 or 0.89%. The Bond market rebounded slightly and the yield on the 10-year treasury note dropped to 2.722%.
3) Urban Outfitters (URBN) has been on a roller-coaster ride for years but its latest drop, which started last August, has traders and investors very worried. Shares of URBN have fallen over 42% since last summer and are currently testing a key level of support. The lifestyle Products Company reports quarterly earnings tomorrow after market close.
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
