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Equities Sell Off, Crude Hovering: Wednesday's Market Forecast

Posted by TopstepTrader on November 09, 2017

Equities are coming off the S&P's ($ESZ7) all-time high close yesterday - and selling off hard. The S&P 500 is down 0.5%, while the Nasdaq ($NQZ7) has lost 1%. The sell off hasn't helped Gold ($GCZ7) rally much - it's up $2 at the moment. 

Most eyes here are on Crude Oil ($CLZ7), which saw a new yearly high near $58 per barrel yesterday. Then, it sold off hard. The question today is whether the price can rally more, or if that selling was perhaps long-term producers looking to book profits from the 30+% rise in the past four months. 

Senior Performance Coach John Hoagland goes over these and all the other factors moving the market today.

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Topics: Market Updates