In Today's Update:
1) The downward trend in the Oil Market is starting to seep into the Equity markets as Traders and Investors fear a global economic slowdown. The Dow Jones Industrial Average dropped 201.92 or 0.77%, the S&P 500 fell 25.82 or 0.92% while the Nasdaq 100 closed lower by 123.98 or 1.65% and the Russell 2000 finished lower by 28.72 or 1.82%.
2) Crude Oil Futures fell for the 10th straight day and have now posted their longest losing streak in 34 years while Gold Futures fell to a one-month low after another strong day for the U.S. dollar. The Bond market bounced back slightly on Friday and the yield on the 10-year treasury note dropped to 3.184%.
3) The "Death Cross" indicator has accurately predicted most severe bear markets including the bear markets of 1929, 1938, 1974, and 2008. The death cross occurs when the 50-day moving average crosses below the 200-day moving average. Are we about to see this happen again? In today's video, we will look at the four main U.S. Equity index charts and how close they are to experiencing this again.