Daily Chart Report ? Tuesday, April 2nd, 2019
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Today’s Summary
Tuesday, April 2nd, 2019
Indices: US stocks were a mixed bag today with the Dow Jones falling 79 points or 0.30%. The Nasdaq gained 0.25% while the S&P 500 closed flat.
Sectors: Real Estate led with a gain of 0.86% while Consumer Staples lagged, falling 0.82%.
Commodities: WTI Crude Oil futures pushed higher by 1.54% to close at $62.59 per barrel. Gold futures rose 0.10% to settle at $1,296 per ounce.
Currencies: The US Dollar Index was relatively flat, changing just 0.08%.
Interest Rates: The US 10-year Treasury yield slipped to 2.472%.
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 the founder of Fibonacci.com, Tarek Saab (@FibLines). It’s a line chart showing Bitcoin breaking out of its multi-year downtrend. The entire crypto space has been dead for the past few months but as Tarek points out, Bitcoin seems to be regaining strength lately. Could this be the start of a resurgence in cryptocurrencies? We want to know what you think. Tweet us @TheChartReport on Twitter.
Quote of The Day
“Patterns repeat because human nature hasn’t changed in thousands of years”
-Jesse Livermore (American Investor)
We’ve noticed a lot of chatter about China’s Shanghai Composite lately. This article highlights what some of the smartest technical analysts on the street are saying about China’s stock market right now.
The IPO Frenzy…What Does it Mean and How Can I Participate? – Howard Lindzon
In this blog post, respected venture capitalist, Howard Lindzon gives his thoughts on the recent burst of Silicon Valley unicorns like $LYFT going public.
Nasdaq and NYSE Testing New Breakout Levels – Chris Kimble
Here’s a short read from Chris Kimble where he points out that two major indices are testing key breakout levels.
Take-Two Suggests Looking Twice at This Setup $TTWO – Greg Schnell
Greg Schnell of StockCharts.com does a deep dive on the chart of Take-Two Interactive ($TTWO). He lays out his reasons why he thinks the stock will move higher.
One Top Technician Says This Dow Laggard Could Be Ready to Breakout – CNBC
Carter worth made an appearance on CNBC yesterday where he presented his bullish thesis on shares of 3M ($MMM). He thinks the large-cap stock is poised to break out after being trendless for months.
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