The Trade Report
Monday, May 7th, 2018
Markets Close Higher in Quiet Trading, Tech Shines,Volatility Falls, Crude Oil Climbs
In one of the quieter sessions since the February Lows, Crude Oil and Tech stocks found their footing and took the market higher throughout most of the session.
Then, Trump said he would be announcing his decision on the Iran Nuclear Deal tomorrow instead of Friday, and that sent Crude Oil sliding. And the rest of the market followed.
After catching themselves, stocks returned to positive on the day and closed there.
Volatility was tame and is poised to go even lower.
These markets may be near the end of their whippy price action exploits.
In my video I discuss the ever-tightening “Wedge Pattern” that is embracing the S&P 500 and how that could keep us relatively restrained for up to a month. But after that.. well, please just watch the video for this, and more.
Thanks for watching!
Markets Close Higher in Quiet Trading (Tech Shines, Oil Climbs)