Market Update for November 1, 2018
In Today's Update:
1) U.S. equities made it three straight days with gains but now face overhead resistance. The Dow Jones Industrial Average gained 264.98 or 1.06%, the S&P 500 added 28.63 or 1.06 while the Nasdaq 100 closed higher by 128.16 or 1.75% and the Russell 2000 finished higher by 33.57 or 2.22%.
2) Crude Oil Futures plunged again today closing lower by $1.84 or 2.82% while Gold Futures spiked $20.00 or 1.65% after the U.S. dollar traded sharply lower. The Bond market was flat and the yield on the 10-year treasury note settled at 3.134%.
3) All eyes were on Apple Inc. (AAPL) after-market close in anticipation of their quarterly earnings report. AAPL beat on earnings and revenue but disappointed on iPhone sales and their forward guidance was lighter expected. Ahead of their conference call, shares of AAPL were trading lower by over $10.00 per share or 4.5% percent.
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
