Daily Chart Report ? Thursday, February 13th, 2020
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Today’s Summary
Thursday, February 13th, 2020
Indices: US stocks closed lower in today’s session with the Dow Jones Industrial Average falling 128 points or 0.43%. The S&P 500 and Nasdaq slipped 0.16% and 0.14%, respectively. The Russell 2000 was the strongest of the major indices gaining 0.26%.
Sectors: Utilities led, gaining 1.11%. Industrials lagged, falling 0.56%.
Commodities: Crude Oil futures slipped 0.33% $51.52 per barrel. Gold futures rose 0.63% to $1,579 per ounce.
Currencies: The US Dollar Index inched up just 0.05%.
Interest Rates: The US 10-year Treasury yield moved lower to 1.609%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Jason Perz (@JasonPerz). It’s a ratio chart of the Junior Gold Mining ETF, $GDXJ versus the “senior” Gold Mining ETF, $GDX, over the past year. The Junior Miners ($GDXJ) are the smaller, more risky companies involved in precious metals mining while $GDX represents the larger, more established mining companies. When the line is rising, it means the junior miners are outperforming the senior miners. This ratio helps us gauge the risk-appetite for precious metals. As Jason points out, the fact that $GDXJ continues to outperform $GDX is evidence of a risk-on behavior and is bullish for the precious metals space as a whole.
Quote of the Day
“I don’t call it technical analysis anymore, I call it data visualization”
– Ralph Acampora (Technical Analyst)
Top Links
Is Market Rally From Renewed Momentum Or Excessive Optimism? – TD Ameritrade Network
In this clip, Willie Delwiche of Baird discusses the difference between market sentiment and economic optimism and shares his thoughts on the market.
$GC Mid-Month Gold Update – Fibonacci.com
Tarek Saab of Fibonacci.com provides a brief technical update on Gold.
Getting Technical: Bullish signals in Crowdstrike (CRWD) – Yahoo Finance
Brian Shannon of AlphaTrends.net breaks down recent price action and levels of interest in the Nasdaq and Crowdstrike ($CRWD).
Oil Will Be in Bear Market a Lot Longer, Macro Risk Advisors’ Kolovos Says – Bloomberg
John Kolovos of Macro Risk Advisors takes a look at the US dollar and Crude Oil futures.
Closer Look at February – LPL Financial Research
In this note, the team at LPL Financial Research examines how stocks tend to perform in February.
Top 10 Tweets
You’re all caught up now. Thanks for reading!