Market Update for May 19, 2019

In today's update:

1) Stocks took a turn for the worse on Friday and finished in the red after U.S. - China trade talks broke off. The Dow Jones Industrial Average dropped 98.68 or 0.38%, the S&P 500 fell 16.79 or 0.58% while the Nasdaq 100 closed lower by 81.76 or 1.04% and the Russell 2000 finished lower by 21.48 or 1.38%.

2) Crude Oil Futures finished flat Friday but posted a gain for the week while Gold Futures dropped to close near a two-week low on more strength in the U.S. dollar. The Bond market traded higher and the yield on the 10-year Treasury Note settled at 2.393%.

3) Shares of Tesla Inc. (TSLA) have been dropping all year and took another step lower Friday falling $17.30 or 7.58% after the company announced a hardcore plan to slash costs. TSLA has already fallen below a key support level and is now in Jeopardy of violating an even bigger support level. In today's video, we will review the key levels and downside targets to watch.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

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