Market Update for November 15, 2018
In Today's Update:
1) Stocks bounced back today posting healthy gains but failed to do anything significant from a technical analysis perspective. The Dow Jones Industrial Average gained 208.77 or 0.83%, the S&P 500 added 28.62 or 1.06% while the Nasdaq 100 closed higher by 122.64 or 1.72% and the Russell 2000 finished higher by 21.62 or 1.44%.
2) Crude Oil Futures managed to move slightly higher despite a build in U.S. Crude stockpiles while Gold Futures edged higher on continued weakness in the U.S. dollar. The Bond market reversed earlier gains and the yield on the 10-year treasury note finished the day at 3.111%.
3) Nvidia Corp. (NVDA) reported third-quarter earnings after the market close. The worldwide visual computing company came in below consensus on revenue and missed expectations on fourth-quarter revenue guidance. In after-hours trading, shares of NVDA were trading lower by $32.00 per share or 16%.
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
