Market Update for September 5, 2018
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.
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
