Market Update for May 15, 2019
In today's update:
1) U.S. Equities reversed early morning losses to advance for the second consecutive trading session after the Trump Administration decided to delay Auto tariffs. The Dow Jones Industrial Average gained 115.97 or 0.45%, the S&P 500 added 16.55 or 0.58% while the Nasdaq 100 closed higher by 87.65 or 1.13% and the Russell 2000 finished higher by 5.21 or 0.34%.
2) Crude Oil Futures also moved higher despite a jump in U.S. Crude stockpiles while Gold Futures were flat and the U.S. dollar closed slightly higher. The Bond market traded higher and the yield on the 10-year Treasury Note settled at 2.376%.
3) Cisco Systems (CSCO) has been moving steadily higher since the recent bull market began back in mid-2012 and looks poised to move even higher. After-market close, CSCO reported strong quarterly earnings, raised forward guidance estimates and are trading higher by $1.44 or 2.75%.
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
