Market Update for October 15, 2018

In Today's Update:

1) Stocks slipped again today led by Technology shares on a fairly quiet day with volume that was slightly above-average. The Dow Jones Industrial Average dropped 89.44 or 0.35%, the S&P 500 fell 16.34 or 0.59% while the Nasdaq 100 closed lower by 66.15 or 0.88% and the Russell 2000 finished higher by 6.44 or 0.42%.

2) Crude Oil Futures closed slightly higher gaining $0.33 or 0.46% at the official close while Gold Futures jumped another $8.70 or 0.71% after U.S. Retail Sales came in weaker-than-expected causing the U.S. dollar to drift lower. The Bond market was mostly flat and the yield on the 10-year treasury note held steady at 3.156%.

3) Most Traders and Investors have heard the saying "Don't try to catch a falling knife". Well, Sears Holding Corp (SHLD) is a perfect example why. Back in April of 2007 SHLD was a $195.00 stock and today, after filing for chapter 11 bankruptcy protection, its share price is just $0.28. As painful as this may be to experience, it is a lesson worth learning.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

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