Market Update for October 29, 2018

In Today's Update:

1) It was another volatile day for U.S. equities as the Dow 30 had a swing of more than 900 points from high to low before closing deeply in the red. The Dow Jones Industrial Average dropped 245.39 or 0.99%, the S&P 500 fell 17.44 or 0.66% while the Nasdaq 100 closed lower by 116.92 or 1.63% and the Russell 2000 finished lower by 6.51 or 0.44%.

2) Crude Oil Futures fell $0.79 or 1.17% as traders start to worry about the global economy while Gold Futures lost $4.80 or 0.39% due mostly to strength in the U.S. dollar. The Bond market traded slightly lower today pushing the yield on the 10-year treasury note up to 3.086%.

3) From a strong dollar and rising rates to trade issues and a slow down in the US housing market, traders and investors have a lot to be concerned about. Today, the U.S. equity markets gapped higher before starting to roll over again, but right around 2 p.m. eastern news that the U.S. was about to place tariffs on the remaining $257 billion in Chinese Goods caused the markets to spiral out of control.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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