Daily Chart Report ?Tuesday, February 19th, 2019
Today’s Summary
Tuesday, February 19h, 2019
US stocks inched higher in today's session, with the Dow Jones Industrial Average closing higher by just 8 points or 0.03%. The small-cap Russell 2000 index was the strongest among the major US indices finishing up 0.33%.
As for the sectors of the S&P 500, Materials were the leader advancing 0.62%. On the other hand, Healthcare was the laggard declining by 0.26%.
Crude oil was was higher today by about 0.88% to settle at $56.08 a barrel. Metals had a particularly strong day with Gold closing up 1.66% settling at $1,344 an ounce. Palladium continues to print all-time highs and is even worth more per ounce than Gold. Copper hit its highest level today since July of 2018.
Here are some of the best charts, articles, and ideas being shared on the web today. Enjoy!
Chart of the Day
Today's chart of the day was shared on Twitter, by Tom Bruni (@BruniCharting). It's a line chart of the NYSE Common Stock-Only Advance-Decline Line. The index is commonly used by traders and technicians to gauge the overall health of the market, by measuring the participation from the individual stocks within it. The indicator hit an all-time high today, suggesting that the market internals are healthy enough to sustain further gains.
Quote of The Day
"I'm not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity."
-George Soros (Investor, billionaire, philanthropist, b.1930 )
Top Links
Heres a good read on what technical strategist, Willie Delwiche is seeing from the internals of the market right now. He focuses on equally weighted US indices in order to gauge the breadth of participation in the rally that the market has seen this year.
Legendary technician, John Roque is always talking about "Brobdingnagian Bases" but what exactly does that mean? In this article from The Chart Report, we explain the term essentially means a giant base from which price is likely to breakout from.
Technical Analysts Remain Bullish - The Chart Report
The market has staged an impressive rally off of the December 2018 lows. Headlines remain scary and many fear that the market might need to pull back in the near-term. This article explains why some of the smartest technicians think the market has further upside from here.
30 Stocks Above and Below 50-DMAs - Bespoke
Here's a note that Bespoke put out this afternoon that highlights the 30 stocks in the S&P 500 that are trading furthest above their 50-day moving averages and the 30 stocks that are trading below their 50-day moving averages.
Two Sectors are Rolling Over Inside the Leading Quadrant on the Daily RRG - RRG Charts - StockCharts.com
Relative Rotation Graphs (RRG) are an intuitive way of visualizing sector rotation and relative strength. The creator of RRG, Julius De Kempenaer wrote this article explaining what he's seeing from both the Technology and Industrial sectors.
