Market Update for November 12, 2018
In Today's Update:
1) U.S. Equities started the day lower and never looked back as sellers continued to push prices into the red right into the close. The Dow Jones Industrial Average dropped 602.12 or 2.32%, the S&P 500 fell 54.79 or 1.97% while the Nasdaq 100 closed lower by 206.03 or 2.78% and the Russell 2000 finished lower by 30.70 or 1.98%.
2) Crude Oil Futures kept their losing streak alive losing another $1.14 or 1.89% while Gold Futures fell to a one-month low after another very strong move for the U.S. dollar. The Bond market bounced again and the yield on the 10-year treasury note settled the day at 3.184%.
3) Shares of Lumentum Holdings (LITE) plummeted $18.45 or 32.98% today after lowering their outlook for fiscal second-quarter 2019. LITE supplies Apple Inc. (AAPL) with technology for the iPhone's face-recognition function. Shares of AAPL dropped $10.30 or 5.04%.
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
