Daily Chart Report ? Monday, July 15th, 2019
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Today’s Summary
Monday, July 15th, 2019
Indices: US stocks were slightly higher in today’s session with the Dow Jones Industrial Average gaining 27 points or 0.10%. The Russell 2000 was the weakest of the major indices and closed down 0.52%.
Sectors: Utilities led, gaining 0.40%. Energy lagged, falling 0.92%.
Commodities: Crude Oil futures fell 1.05% to settle at $59.58 per barrel. Gold futures inched higher by 0.13% to $1,413 per ounce.
Currencies: The US Dollar Index rose 0.13%.
Interest Rates: The US 10-year Treasury yield fell to 2.089%
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Tom Bruni of All Star Charts (@BruniCharting). It’s a ratio chart showing the Broker-Dealers & Exchanges ETF, ($IAI) relative to the S&P 500 ETF, ($SPY). When this ratio is rising it means Broker-Dealers and Exchanges are outperforming the S&P 500 and vice-versa. Tom notes that among the industry groups within the Financial sector, Insurance ($IAK) “has been the clear leader”. The Broker-Dealers and Exchanges ETF, $IAI has underperformed the S&P 500 in 2019, however, Tom points out that the ratio chart “continues to improve”. In other words, the ratio chart is suggesting that Broker-Dealers and Exchanges could begin to outperform the S&P 500 in the near-term. Tom emphasizes that this type of rotation is “not bearish”.
Quote of The Day
“Fish see the bait, but not the hook; men see the profit, but not the peril.”
– Chinese Proverb
Top Links
In this video, Chris Ciovacco takes a look at a few different charts that suggest that US stocks are setting up for the next leg higher.
All That Glitters - Dana Lyons
Here's a short read from Dana Lyons of J. Lyons Fund Management that touches on the recent strength he's seeing from US Stocks and Gold.
The Consumer Staples Sector is Leading and This Stock is About to Break Out - StockCharts.com
In this article from StockCharts.com, Arthur Hill examines the Consumer Staples sector. He also outlines one stock within the sector that he thinks is poised to outperform.
Momentum Monday - This Bull Market is Making me Smart - Howard Lindzon
In this edition of "Momentum Monday," Howard Lindzon and Ivanhoff discuss some of their favorite trends and momentum stocks in the market right now.
Silver/Gold Ratio Making a Bullish Reversal? - Kimble Charting Solutions
Chris Kimble checks in on the Silver/Gold ratio. He explains that this ratio serves as a good risk-on/risk-off indicator for the precious metals space.
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