Market Update for November 18, 2018
In Today's Update:
1) U.S. equities closed mixed on Friday but posted big weekly losses as the Technology sector remained under pressure. The Dow Jones Industrial Average gained 123.95 or 0.49%, the S&P 500 added 6.07 or 0.22% while the Nasdaq 100 closed lower by 11.16 or 0.15% and the Russell 2000 finished higher by 3.41 or 0.22%.
2) Crude Oil Futures advanced $0.37 or 0.66% on Friday but posted its sixth straight weekly loss while Gold Futures jumped $7.00 or 0.58% as the U.S. dollar continues to slide. The Bond market closed out a quiet week with a gain and the yield on the 10-year treasury note finished the week at 3.066%.
3) We have a short week ahead due to the Thanksgiving holiday on Thursday and an early close for Equity markets on Friday. In the first part of the week, we will get several economic data reports including the Housing Market Index, Building Permits, Housing Starts, the Redbook report, Durable Goods Orders, Jobless Claims, and Existing Home Sales.
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
