In Today's Update:
1) Stocks made a desperate attempt to recover today but failed and closed mostly lower on slightly higher than average volume. The Dow Jones Industrial Average dropped 100.69 or 0.40%, the S&P 500 fell 4.04 or 0.15% while the Nasdaq 100 finished completely flat and the Russell 2000 closed the day lower by 3.99 or 0.26%.
2) Crude Oil Futures have become a falling knife that no one wants to catch dropping another $4.65 or 7.76% while Gold Futures closed lower by $0.70 or 0.06%. The Bond market traded slightly lower and the yield on the 10-year treasury note finished the day at 3.141%.
3) Crude Oil Futures have been spiraling lower since hitting a 52-week high on October 3rd, 2018. Since then, Crude has dropped more than 27.5% and looks likely to continue falling. In today's video, we will review The Daily, Weekly, and Monthly charts of Crude Oil to look for the next level of potential support.