{"id":48312,"date":"2018-11-09T15:43:18","date_gmt":"2018-11-09T20:43:18","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=48312"},"modified":"2018-11-13T17:35:44","modified_gmt":"2018-11-13T22:35:44","slug":"crude-oil-drags-down-stock-market","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2018\/11\/crude-oil-drags-down-stock-market\/","title":{"rendered":"Crude Oil Drags Down The Stock Market"},"content":{"rendered":"

Hello traders everywhere. Overall the stock market was looking to finish out a strong week on a high note, but it was not be. Crude oil had other ideas and decided to spoil the party by doing something that it hasn't done since 1984, that's right, I said 1984. For the first time since 1984 oil will post ten straight losing sessions while suffering a drop of over 20% from the recent high and trading below $60 for the first time since March of this year. <\/p>\n

Oil's move lower put a bit of a damper on the week for stocks, but overall the big three indexes will still spot weekly gains with the DOW leading the way with a gain of about +2.5% as I write. The S&P 500 checks in with a weekly gain of +1.6% and NASDAQ will still post an increase of +.30% as we head into the close. <\/p>\n

\"Crude<\/a> <\/p>\n

We also woke up to a surprise from gold, a new red weekly Triangle indicating that the intermediate-term trend has resumed its downward move changing the Chart Analysis Score to -100 and pushing gold down with a weekly loss -1.9% trading close to $1,200.00. On the flip slide, the U.S. dollar is still chugging along posting a weekly gain of +.43%. Meanwhile, Bitcoin continues to go nowhere and will post a weak increase of +.10% on for the week. <\/p>\n

Key Levels To Watch Next Week:<\/h2>\n

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