Daily Chart Report ? Friday, April 26th, 2019
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Today’s Summary
Friday, April 26th, 2019
Indices: US stocks ended the week on a positive note with the Dow Jones Industrial Average gaining 81 points or 0.31%. The Russell 2000 was the strongest of the major indices, closing up 0.96%.
Stocks: Shares of the electric car maker, Tesla ($TSLA) were down 5.04% today as price broke a key support level.
Sectors: Healthcare led, gaining 1.02%. Energy lagged, falling 1.16%.
Commodities: WTI Crude Oil futures fell 2.90% to settle at $63.30. Gold Futures were higher by 0.71% and settled around $1,288 per ounce.
Currencies: The US Dollar Index fell 0.17%.
Interest Rates: The US 10-year Treasury yield fell to 2.502%.
Here are some of the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s chart of the day was shared on Twitter by David Zarling (@360research). It’s a ratio chart showing the performance of Ford ($F) relative to Tesla ($TSLA). We like the chart because it illustrates how Ford is breaking out while Tesla is breaking down. Tesla has been getting even more attention than usual lately. Shares are down nearly 30% YTD and this week, it broke a key support level around $240-250. Ford, on the other hand, has been breaking out and is up over 40% YTD! Could this be the start of a regime change in favor of traditional automakers after years of underperformance versus the electric car maker?
Quote of The Day
“The symbol of all relationships among such men, the moral symbol of respect for human beings is the trader.”
– Ayn Rand (Philosopher)
Tesla Breaking Down – The Chart Report
Here’s a piece from The Chart Report that features what some of the smartest technicians are saying about the break down in Tesla ($TSLA) right now.
XLV Gets an Injection – Greg Schnell – StockCharts.com
Greg Schnell of StockCharts.com writes how the Healthcare sector has potential upside from here, after taking a beating over the past few weeks.
Ford (F) Market Cap Back Above Tesla (TSLA) – Bespoke
In our Chart of the Day above, we mentioned how Ford was breaking out relative to Tesla. This short note from Bespoke touches on the fact that today, Ford’s market-cap exceeded Tesla’s. They found that just four-months ago Tesla’s market-cap was double Ford’s market cap.
11 Things You Need to Know About the Yield Curve – LPL Research
This note from LPL Financial Research lays out everything you need to know about the yield curve for your next cocktail party.
Brian Shannon’s Weekly Market Recap
Here is Brian Shannon’s weekly market video where he recaps this past week and gives his outlook for the week ahead.
Top 10 Tweets