In today's video:
1) It was a very mixed close for U.S. equities today as Tech stocks were hammered but the Dow 30 closed in positive territory. The Dow Jones Industrial Average gained 22.51 points, the S&P 500 dropped 8.12 points while the Nasdaq 100 closed lower by 96.07 points and the Russell 2000 finished lower by 5.73 points.
2) Gold Futures advanced today gaining $2.80 after a slight drop in the U.S. dollar while Crude Oil Futures dropped significantly closing lower by $1.25 or 1.79% after tropical storm Gordon failed to become a hurricane. The Bond market dropped for the third straight session bumping the yield on the 10-year treasury note up to 2.905.
3) Netflix (NFLX) led Tech stocks lower today losing $22.42 or 6.17%. Even though one down day cannot be defined as a downtrend there are bearish signs spread throughout the daily, weekly, and monthly charts. In today's video, we will review all three charts and discuss the important price level to watch.