Market Update for November 19, 2018
In Today's Update:
1) There was nowhere to hide today as the selling started early this morning and lasted all day. The Dow Jones Industrial Average dropped 395.78 or 1.56%, the S&P 500 fell 45.54 or 1.66% while the Nasdaq 100 closed lower by 219.40 or 3.03% and the Russell 2000 finished lower by 30.99 or 2.03%.
2) Crude Oil Futures bounced and closed in positive territory after hitting a new 52-week low early in today's trading session while Gold Futures managed to gain $2.30 or 0.02% on more weakness in the U.S. dollar. The Bond market edged higher and the yield on the 10-year treasury note settled at 3.067%.
3) Today's sell-off was widespread impacting most sectors, but in addition to the Technology sector which has been hammered lately, Homebuilder stocks have been getting crushed and the chart of XHB (SPDR Homebuilder ETF) says it all.
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
