Market Recap - January 25, 2020
Markets Fall as Coronavirus Fears Grip World
On Friday, the Centers for Disease Control and Prevention said a Chicago resident who traveled to Wuhan — the Chinese city where the coronavirus originated — in December was diagnosed with the sickness.
U.S. Senator John Barrasso later said the CDC told lawmakers they are about to confirm a third case of the Wuhan virus in the U.S. “It looks like have two documented cases in the US, it looks like third may be confirmed as well.”
Markets accelerated lower throughout the day, led by airlines and credit card companies, as markets priced in the fears of the virus spreading and the possible impact.
Closing numbers for major indices:
Dow 30: 28,989.73 -170.36 (-0.58%)
Nasdaq: 9,314.91 -87.57 (-0.93%)
S&P 500: 3,295.47 -30.07 (-0.90%)
Commodity prices:
Oil: 54.20
Gold: 1,571.30
Silver: 18.12
Notes and Bonds:
10 year Note: 1.686%
30 Year Bond: 2.135%
Currencies:
USD Index: 97.88
Markets accelerated lower throughout the day, led by airlines and credit card companies, as markets priced in the fears of the virus spreading and the possible impact.
Closing numbers for major indices:
Dow 30: 28,989.73 -170.36 (-0.58%)
Nasdaq: 9,314.91 -87.57 (-0.93%)
S&P 500: 3,295.47 -30.07 (-0.90%)
Commodity prices:
Oil: 54.20
Gold: 1,571.30
Silver: 18.12
Notes and Bonds:
10 year Note: 1.686%
30 Year Bond: 2.135%
Currencies:
USD Index: 97.88
Don't Miss Larry Pesavento's Subscriber Webinar January 29th!
Larry will be covering how to read supply and demand, and how, in combination with his trademark ABCD patterns, you can control risk and maximize profit in today's Algo dominated markets.
Click here for all the details on this live 90-minute webinar with Larry.
Click here for all the details on this live 90-minute webinar with Larry.
Join Larry as he presents his analysis of where we are in the markets, and what he's looking for in the year ahead in 2020.
Topics covered:
Topics covered:
- Why 3 out of 10 is a passing grade in financial markets.
- The simple math behind all market moves.
- A hidden in plain sight trend change pattern that gives you early entry into the trend.
- How to find and update the key harmonic numbers to trade against in futures, forex, and stocks.
- How to translate 3 go-to patterns into supply and demand and how to use them for entry.
- The continued importance of the Opening Price in 2020.
- How to use Fibonacci numbers to indicate a continuation move.
- How to use the time of day when taking a position and for entry into longer trends.
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Intel Crushes Earnings Expectations and Trades Higher
- Earnings: Excluding certain items, $1.52 per share, vs. $1.25 per share as expected
- Revenue: $20.21 billion, vs. $19.23 billion as expected
Intel is forecasting first-quarter earnings of $1.30 per share and revenue of $19 billion. Analysts had expected $1.04 in earnings per share and $17.19 billion in revenue.
Charts of the Day
ES
Weekly S&P Chart
VIX
Gold
Crude Oil
30 Year Bond Chart
10 Year Note
Airlines and Credit Card Companies Trade Lower
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Thanks,
Tommy O'Brien
TFNN
Catch up on all of TFNN's shows by visiting our TFNN YouTube page and don't forget to subscribe!
Thanks,
Tommy O'Brien
TFNN