Market Update for November 8, 2018
In Today's Update:
1) As expected, the Federal Reserve decided to keep in interest rates unchanged but Chairman Jerome Powell said they plan to move ahead with gradual increases. The Dow Jones Industrial Average gained 10.92 or 0.04%, the S&P 500 fell 7.06 or 0.25% while the Nasdaq 100 closed lower by 39.87 or 0.53% and the Russell 2000 finished lower by 3.95% or 0.25%.
2) Crude Oil Futures dropped for the ninth straight session and is now officially in Bear Market territory while Gold Futures pulled back $4.40 or 0.36% after a solid bounce in the U.S. dollar. The Bond market was quiet again and the yield on the 10-year treasury note settled at 3.244%.
3) Facebook's fall from grace has been fast and furious and it may just be getting started. After hitting a new all-time high of $218.62 on July 25th of this year it has fallen over 36% and seems to be setting up for another move lower. In today's video, we will review The daily, weekly, and monthly charts.
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
