Daily Chart Report ? Thursday, March 28th, 2019
Sponsored By:
Today’s Summary
Thursday, March 28th, 2019
Indices: US stocks closed higher, with the Dow Jones Industrial Average closing up, 92 points or 0.36%. The Russell 2000 was the strongest of the major indices, gaining 0.85%.
Sectors: Materials led with a gain of 0.97%, while Utilities lagged falling 1.18%.
Commodities: WTI Crude Oil futures fell 0.18% to close at $59.30 per barrel. Gold futures fell 1.66% to settle at $1,295 per ounce.
Currencies: The US Dollar Index gained 0.45%.
Interest Rates: The US 10-year Treasury yields moved higher to 2.391%.
Here are some of 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 Frank Cappelleri of Instanet, (@FrankCappelleri). The two charts are the exact same security (Russell 2000 index) in the same exact time frame. In the tweet, he included the quote “Beauty is in the eye of the beholder” to emphasize the point that you can see the same chart as either bullish or bearish. We like this chart because it highlights the idea that technical analysis is more of an art than a science. Critics of technical analysis argue that chart patterns are subjective and open to interpretation. While this is true, chart patterns are just one tool technicians have. Technical analysis is about more than just chart patterns, it’s really about trend recognition and studying the behavior of market participants.
Quote of The Day
“In bear markets, stocks usually open strong and close weak. In bull markets, they tend to open weak and close strong”
– William O’Neil, (Founder of Investors Business Daily)
A Historical Look at Yield Curve Inversions and Equities – The Chart Report
In this article, we take a look at the impact of a yield curve inversion on stocks. We feature Greg Schnell and Andrew Thrasher who offer unique perspectives into the yield curve discussion.
Interview with Julius de Kempenaer, Creator of Relative Rotation Graphs – Technical Analysis Radio
In this podcast, JC Parets interviews Julius de Kempenaer, the founder of Relative Rotation Graphs or RRG. These charts are a unique way of visualizing relative strength and sector rotation.
Dividend-Paying Stocks Look Ready to Break Out, MKM’s O’Hara Say – Bloomberg
Technical analyst JC O’Hara joined host Abigail Doolittle on Bloomberg on Wednesday to discuss the recent volatility in the bond market and how it could impact high-dividend-paying stocks.
Who is Lying? Stocks, Crude Oil or Yields? – Chris Kimble
In this blog post, Chris Kimble explains how Crude Oil, Stocks, and Treasury yields have seen a high degree of correlation over the past year. However, that correlation seems to have broken down as the 10-year Treasury yield has begun to diverge from the others.
Taking a Look at Global Market Relationships – The Chart Report
This piece from The Chart Report takes a deep dive into Global Equity markets. We ask the question: “what if the real opportunity cost is not being long or short the S&P 500, but not understanding the current relationship between foreign markets?”
Top 10 Tweets