Market Update for November 6, 2018
In Today's Update:
1) Stocks rally ahead of midterm election results on much lighter than expected volume. The Dow Jones Industrial Average gained 173.31 or 0.68%, the S&P 500 added 17.14 or 0.63 percent while the Nasdaq 100 closed higher by 47.11 or 0.64% and the Russell 2000 closed higher by 8.59 or 0.55%.
2) Crude Oil Futures continued to slide closing lower by $0.91 or 1.44% while Gold Futures dipped another $4.20 or 0.34%. The Bond market was flat today and the yield on the 10-year treasury note was trading at 3.217%.
3) Blue Wave, Red Wave or no wave at all? That is what the U.S. Equity markets are waiting to find out. The expectation on Wall Street is a House-Senate split which is the scenario most likely to produce a strong rally. Keep an eye on the Equity Futures market tonight and tomorrow morning for an indication of what to expect during tomorrow's trading session.
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
