Market Update for October 22, 2018

In Today's Update:

1) Stocks closed mixed as investors continue to worry about upcoming earnings reports tensions around the globe. The Dow Jones Industrial Average dropped 126.93 or 0.50%, the S&P 500 fell 11.90 or 0.43% while the Nasdaq 100 closed higher by 19.60 or 0.26% and the Russell 2000 finished lower by 2.58 or 0.17%.

2) Crude Oil Futures traded slightly higher while Gold Futures pulled back $3.10 or 0.25% on strength in the U.S. dollar. The Bond market was quiet again finishing the day little changed and the yield on the 10-year treasury note held steady at 3.196%.

3) One of the simplest and most effective things you can do when trading with technical analysis is to keep an eye on previous pivot highs and lows. Not only will this give you a clear picture of the next near-term direction but it will help you identify breakout trades.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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