In Today's Update:
1) Stocks fell sharply again today and turned negative for the year as Retailers and Technology shares led the market lower. The Dow Jones Industrial Average dropped 550.80 or 2.21%, the S&P 500 fell 48.84 or 1.82% while the Nasdaq 100 closed lower by 119.65 or 1.70% and the Russell 2000 finished lower by 27.53 or 1.84%.
2) The sell-off in Crude Oil Futures accelerated today on rising global supplies and concerns of a global economic slowdown while Gold Futures dipped $3.30 or 0.27% after a sharp rally in the U.S. dollar. The Bond market finished the day slightly higher and the yield on the 10-year treasury note settled at 3.065%.
3) The NYSE Bitcoin index hit a high of almost $19,000 less than one year ago and today it closed at $4601.20. So what's next for this cryptocurrency? Will it continue to drop or can it rally and move back to new highs? In Today's video, we will review the weekly and monthly charts for clues.