Market Update for October 2, 2018
In today's video:
1) The Dow 30 rallied for a second straight day led by Boeing (BA) and Intel (INTC) but the other three main equity indices closed lower. The Dow Jones Industrial Average gained 122.73 points, the S&P 500 fell 1.16 points while the Nasdaq 100 closed lower by 37.76 points and the Russell 2000 finished lower by 16.95 points.
2) Crude Oil Futures took a well-deserved day off today dropping just $0.17 after that huge up day yesterday while Gold Futures gained $15.20 or 1.28%. The Bond market also rallied today and the yield on the 10-year treasury note fell to 3.058%.
3) The Russell 2000 Index, which consists of small-cap stocks, has started the month of October on a sour note and has been known to lead other equity indices in the past. Could this be the beginning of a major sell-off and at what point should we begin to worry?
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
