Market Update for November 14, 2018

In Today's Update:

1) Stocks dipped again today and the Russell 2000 has officially completed the dreaded death cross formation. The Dow Jones Industrial Average dropped 205.99 or 0.81%, the S&P 500 fell 20.60 or 0.76% while the Nasdaq 100 closed lower by 64.48 or 0.90% and the Russell 2000 finished lower by 12.30 or 0.81%.

2) Crude Oil finally broke it's losing streak today edging higher by $0.52 or 0.93% while Gold Futures bounced $10.50 or 0.87% on weakness in the U.S. dollar. The Bond market was calm and the yield on the 10-year treasury note settled the day at 3.124%.

3) Today's after market hours trading session has been dominated by Cisco Systems Inc. (CSCO) and JPMorgan Chase (JPM). CSCO announced better-than-expected earnings and was trading higher by $2.17 or 4.90% while JPM was up $1.57 or 1.46% after news that Warren Buffett's Berkshire Hathaway has recently added 35 million shares ($4 billion) of JPM to his portfolio. Mr. Buffett also has significant positions in Bank of America, Wells Fargo, U.S. Bancorp, Goldman Sachs, and Bank of New York Mellon.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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