Daily Chart Report ? Thursday, June 13th, 2019
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Today’s Summary
Thursday, June 13th, 2019
Indices: US stocks were higher in today’s session, with the Dow Jones Industrial Average closing up 102 points or 0.39%. The Russell 2000 was the strongest of the major indices, finishing up 1.05%.
Sectors: 10 of the 11 S&P 500 sectors finished positive. Energy led, gaining 1.17%. Healthcare lagged, falling 0.12%.
Commodities: WTI Crude Oil futures rebounded 2.41% to settle at $52.36 per barrel. Gold futures were higher by 0.52% and are trading around $1,346 per ounce.
Currencies: The US Dollar Index changed just 0.03%.
Interest Rates: The US 10-year Treasury yield fell to 2.093%.
Here are some of the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s chart of the day was shared on Twitter by Jon Najarian (@jonnajarian). It’s a chart comparing the year-to-date performance of Disney ($DIS) and Netflix ($NFLX). The chart shows the two stocks neck & neck, with both up around 28%, so far in 2019. By today’s close, Disney was able to surpass Netflix and the two are now up 29.27% and 28.31%, respectively. Disney is the third best performing Dow component this year and today printed an all-time closing high. Netflix, on the other hand, is still about 18% below its 52-week high. In a report today, we highlighted the inability for the beloved FAANG stocks to reach new highs this year. Going forward, it’ll be interesting to keep an eye on Disney to see if it will continue breaking out from here.
Quote of The Day
“Markets trend only about 15 percent of the time; the rest of the time they move sideways.”
– Paul Tudor Jones II (American Investor)
Top Links
In this report, we take look at breadth and what it's signaling for the market going forward. We point out that a majority of FAANG stocks have yet to hit new 52-week highs.
Stock Market Today: June Rally Stalls at Resistance - Chaikin Analytics
Market strategist, Dan Russo checks-up on the breadth and momentum of the US Stock Market. He also gives his thoughts on global equity markets.
Bulls Slowly Return - Bespoke
In this note, Bespoke analyzes the most recent AAII sentiment survey. They break down the three categories (bullish, bearish and neutral), and what they are suggesting for the market.
Real Estate is Getting Back in Shape - StockCharts.com
Julius de Kempenaer uses a Relative Rotation Graph, or RRG to illustrate that the Real Estate sector is begging to regain strength. RRGs are a unique way of visualizing relative strength and sector rotation.
Where's the Beef? - Heading Higher Despite Alternatives Challenge - Almanac Trader
Forget about Beyond Meat ($BYND)! Seasonality expert, Jeff Hirsch suggests a better trade would be buying the real stuff, (live cattle). He explains how live cattle prices typically bottom in mid-June.
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