Daily Chart Report ? Thursday, April 18th, 2019
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Today’s Summary
Thursday, April 18th, 2019
Indices: US stocks ended the week on a positive note with the Dow Jones Industrial Average closing up 110 points or 0.42%. The small-cap Russell 2000 was the weakest among the major indices, falling 0.23%.
Stocks: Both Pinterest ($PINS) and Zoom ($ZM) debuted as public companies today. Pinterest jumped 28% while Zoom surged 72%.
Sectors: Industrials led, gaining 1.15%. Energy lagged falling 0.50%.
Commodities: WTI Crude Oil futures rose 0.44% to settle at $64.04. Gold Futures were unchanged and continue to trade around $1,277 per ounce.
Currencies: The US Dollar Index was higher by 0.46%.
Interest Rates: The US 10-year Treasury yield fell to 2.56%.
**As a reminder, US Equity Markets are closed tomorrow in observance of Good Friday**
Here are some of the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s chart of the day was shared on Twitter by Luke Kawa, (@LJKawa). It’s a YTD chart of the Nasdaq 100 equal-weight in yellow and the normal cap-weighted Nasdaq 100 in blue. Luke points out that the larger-cap stocks within the index are starting to take the lead. This is a notable transition from what we’ve seen over the last two quarters or so, as the Nasdaq equal-weight had outperformed its cap-weighted peer by as much as 5% at times, coming off the highs from last September.
Quote of The Day
“There’s nothing wrong with cash. It gives you time to think”
– Robert Prechter (Author and Stock Market Analyst)
What’s Driving the Dow? – The Chart Report
In our most recent post, we take a deep dive into the Dow Jones Industrial Average and share some of our favorite chart setups within the index.
Three Charts That Show Bank Stocks May Be Ready to Bounce Higher – Bloomberg
In this clip from Bloomberg, Steve Suttmeier joins host Abigail Doolittle to discuss the Financial sector and present three of the charts he’s watching right now.
Video: Why Can’t You Say, “I Don’t Know?” – All Star Charts
In this quick video, JC Parets sits down with technician and behavioral finance expert, David Keller. They discuss why traders and analysts are bad at dealing with uncertainty and being right or wrong.
Lululemon is at Records, and Charts Suggest Another 10% Gain – CNBC
Todd Gordon of TradingAnalysis.com gives his thoughts on shares of Lululemon ($LULU). He thinks the stock could continue rallying to the $185 level.
Financials Made It Into The Leading Quadrant, Now What? – StocksCharts.com
In this piece, Julius de Kempenaer points out the rotation into the financial sector as $XLF crossed over into the leading quadrant on the daily Relative Rotation Graph as of yesterdays close.
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