The conflict between Russia and Ukraine is the major driving force of stocks right now.
Virtually everything will be overshadowed by what happens between Russia and Ukraine.
Meanwhile, the Department of the Treasury announced new sanctions that could immobilize any assets of the Russian central bank in the U.S. Western nations also blocked some Russian banks from the global payments system, which caused the ruble to plunge to a record low of less than one U.S. penny.
What all this means is that if Russians have money outside of the country itself, aye yai yai… no soup for them!
In this stock market recap video, we’ll discuss the latest news between Russia and Ukraine… the key price levels to watch… and all of this week’s most important data and reports.
After weeks of anticipation, the Russian military began its move into Ukrainian territory Feb. 24
Following an initial sell-off at the open, stocks rallied later that day as President Joe Biden announced stiff economic sanctions for the aggressors…
The sanctions, along with some speculation that the conflict could pressure the Federal Reserve to postpone its expected interest rate hike, helped indexes turn course… Especially for riskier tech stocks with the Nasdaq, which rallied over 800 points to finish 3.3% in the green Thursday.
In short, it was another volatile trading day driven by more headlines out of Eastern Europe.
Those headlines have made things tough for traders to come out on top, but our New Money Crew strategies were able to find success amid the gloomy outlook…
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Technical Analysis is a trading discipline employed to evaluate investments and identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume. Unlike fundamental analysts, who attempt to evaluate a security's intrinsic value, technical analysts focus on patterns of price movements, trading signals and various other analytical charting tools to evaluate a security's strength or weakness.
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