Daily Chart Report ? Wednesday, April 10th, 2019
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Today’s Summary
Wednesday, April 10th, 2019
Indices: US stocks were higher today with the Dow Jones Industrial Average eking out a small gain of 7 points or 0.03%. The Russell was especially strong, finishing up 1.31%, while the S&P and Nasdaq closed up 0.35% and 0.69% respectively.
Sectors: Real Estate led with a gain of 0.77%. Utilities lagged, falling 0.35%.
Commodities: WTI Crude Oil futures rose 0.77% to settle at $64.48 per barrel. Gold futures were higher by 0.29% to settle at $1,312 per ounce.
Currencies: The US Dollar Index was more or less unchanged, slipping just 0.08%.
Interest Rates: The US 10-year Treasury yield fell to 2.468%.
Here are some of the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s chart of the day was shared on Twitter by Eddy Elfenbein (@EddyElfenbein). It’s a chart comparing the performance of the S&P 500 (blue) and the Dow Jones Industrial Average (red) over the past few weeks. The two usually move together, however, you can see they have begun to diverge recently causing some confusion over how the market is actually doing.
Quote of The Day
“If everyone is thinking alike, then somebody isn’t thinking.”
– George S. Patton (United States WWII General)
Who is More Precious – Peter Brandt
Legendary trader, Peter Brandt takes a look at precious metals. He’s seeing Gold forming a bearish head & shoulders top while Platinum looks like it’s breaking out of a long-term base.
Healthcare Subsector A Provider of Opportunity – Tom Bruni – All Star Charts
Tom Bruni of All Star Charts points out that despite being one of the weakest subsectors within Healthcare, the Healthcare Providers ($IHF) look to be staging a comeback.
WYNN Win – Bruce Fraser – StockChart.com
This article takes a close look at what the technicals are suggesting for shares of Wynn Resorts ($WYNN). Bruce Fraser explains that one theme giving this trade a tailwind is strength from Chinese Large-Cap stocks.
Technical Analyst Uses Short Options on Boeing ($BA) – CNBC
Todd Gordon, founder of tradinganalysis.com was featured on CNBC yesterday. He explained why he’s bearish on Boeing here and walks viewers through how to construct the trade using options.
The Hated Rally Broadens – That’s Good – Michael Kahn
In this piece, Michael Kahn discusses how hated this stock market rally is. He puts forth a list of positive technical developments and explains that the abundance of investor pessimism could actually drive the market higher.
Top 10 Tweets