Daily Chart Report ? Monday, April 29th, 2019
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Today’s Summary
Monday, April 29th, 2019
Indices: US stocks were slightly higher with the Dow Jones Industrial Average gaining 11 points or 0.04%. The S&P 500 was higher by 0.11% and hit a new all-time high!
Stocks: Pinterest ($PINS) was up nearly 15% today, and has closed higher every day since going public seven sessions ago.
Sectors: Financials led, gaining 1.01%. Energy lagged, falling 1.03%.
Commodities: WTI Crude Oil futures rose 0.54% to settle at $63.64. Gold Futures were lower by 0.57% and settled around $1,281 per ounce.
Currencies: The US Dollar Index fell 0.16%.
Interest Rates: The US 10-year Treasury yield moved higher to 2.529%.
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 Arthur Hill (@ArthurHill). It’s a daily bar chart of the small-cap Russell 2000. Many have pointed to small-caps as an area of concern as the Russell 2000 hasn’t hit a new all-time high along with some of the other major indices. Recently, The Russell had been struggling at the 200-day moving average while other major indices were grinding higher. These fears were eased today with the Russell breaking out to a new YTD closing high with help from Financials, the heaviest-weighted sector in the index.
Quote of The Day
“The trend vanished, killed by its own discovery”
– Benoit B. Mandelbrot (Mathematician)
What’s Next for Gold and Silver? – The Chart Report
In this report, we breakdown what some of the smartest technicians are saying about the Precious Metals space right now.
S&P 500 ChartStorm – Callum Thomas – TopDown Charts
Chart watcher, Callum Thomas puts out this weekly note where he presents the top 10 charts he’s watching. He explains that it’s constructive to see the market hit new all-time high but is concerned with sentiment and the underperformance of small-caps.
Oil Bulls Still in Control – Tarek Saab – Fibonacci.com
Tarek Saab of Fibonacci.com takes a look at WTI Crude Oil. Based on the chart, he’s bullish on the commodity and thinks you can be buying dips as long as Crude Oil stays above $59 per barrel.
Coffee About to Heat Up and Breakout? – Chris Kimble
In this post, Chris Kimble breaks down a chart of Coffee futures. He explains that despite being in a downtrend for years, Coffee could see a short-term rally as it tests a key support level.
Momentum Monday – Software Stocks are Back in Play – Howard Lindzon
In this week’s “Momentum Monday” segment, Howard Lindzon and Ivaylo Ivanhoff break down some of the trends they’re watching. They touch on the fact that sector rotation continues to drive the bull market higher.
Top 10 Tweets