Daily Chart Report ? Tuesday, May 7th, 2019
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Today’s Summary
Tuesday, May 7th, 2019
Indices: US stocks closed lower in today’s session with the Dow Jones Industrial Average falling 473 points or 1.79%.
Sectors: All 11 sectors of the S&P 500 finished lower. Utilities led, falling 0.31%. Technology lagged, falling 2.15%.
Commodities: WTI Crude Oil futures were lower by 1.31% to settle at $61.44 per barrel. Gold futures were higher by 0.15% to settle at $1,286 per ounce.
Currencies: The US Dollar Index was higher by just 0.05%.
Interest Rates: The US 10-year Treasury Yield fell to 2.448%.
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 John Kicklighter (@JohnKicklighter). It’s a daily candlestick chart of the S&P 500 index. You’ll notice that price formed a rising wedge pattern that came to a point right at resistance from the September highs. Price typically extends to the downside once this bearish chart pattern is broken. Price has already begun breaking down and looks like it will see further downside from here.
Quote of The Day
“The market takes the stairs up and the elevator down”
– Anonymous
What is Volatility Telling Us? – The Chart Report
Volatility has returned to the stock market in a fierce way. The $VIX is up over 50% in the past two days. In this report, we take a look at what some of the top technicians are saying about the current volatility environment.
The Round-Trip Method of Investing – Real Vision
In this video clip, Louis Llanes, CMT, CFA, founder of Wealthnet Investments sits down with Real Vision to discuss how he combines technicals and fundamentals in his investment process.
Andrew Thrasher Breaks Down The Move in Vix – TD Ameritrade Network
Volatility has been spiking like crazy over the past couple days. TD Ameritrade had volatility expert, Andrew Thrasher on to give his thoughts on the recent move.
Video: Advice From A Freshly Minted CMT – Tom Bruni
Tom Bruni is a Technical Analyst at All Star Charts. He recently earned his Chartered Market Technician designation. In this video, he talks with JC Parets about his experience with the CMT program.
Money Savage Podcast – Technical and Behavioral Analysis With David Keller
Here’s an interesting podcast featuring David Keller, CMT. He discusses the roles that our emotions and behaviors play in investing.
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