Daily Chart Report ? Thursday, July 25th, 2019
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Today’s Summary
Thursday, July 25th, 2019
Indices: US stocks were lower in today’s session with the Dow Jones Industrial Average dropping 129 points or 0.47%. The Russell 2000 was the weakest of the major indices, falling 1.20%.
Sectors: Consumer Staples was the only sector to close positive, gaining 0.13%. Energy lagged, falling 1.13%.
Commodities: Crude Oil futures gained 0.25% to settle at $56.02 per barrel. Gold futures fell 0.55% to $1,416. per ounce.
Currencies: The US Dollar Index inched higher by 0.06%.
Interest Rates: The US 10-year Treasury yield rose to 2.083%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Troy Bombardia (@bullmarketsco). It’s a chart of the Volatility Index ($VIX) with a table showing how the VIX historically performs after falling below 12. As Troy points out, the VIX fell below 12 today for the first time in over three months. According to his table, the VIX tends to be higher the week after falling below this critical level, 85% of the time with an average gain of 5.38%. If history is any guide, it would be wise to anticipate a pick up in volatility from these depressed levels, particularly in the very near term.
Quote of The Day
Top Links
What are “The Junkies” Doing? – All Star Charts
Tom Bruni of All Star Charts examines the ratio of Silver to Small-cap US Stocks. He calls this the junkie ratio in reference to the fact that these two represent the riskiest assets in their respective markets.
Market Outlook – 07/24/2019 – David Settle
In this video, David Settle of Market Scholars rips through dozens of charts and weighs the bullish and bearish technical developments in order to shape his market outlook.
Sentiment Steps Back – Bespoke
Here’s an analysis of the latest AAII Sentiment Survey from Bespoke. They highlight the fact that bullish sentiment dropped from 35.93% to 31.74% despite the market being near record highs.
Todd Gordon’s Apple Trade Ahead of Earnings – CNBC
Todd Gordon of TradingAnalysis.com outlines a bullish options trade on Apple ($AAPL) ahead of this week’s earnings report.
Technicals Support New Highs for the Nasdaq 100, BofA Merrill’s Suttmeier Says
In this clip from Bloomberg, Technical Analyst, Steve Suttmeier shares his thoughts on tech and growth stocks.
Top 10 Tweets
Upcoming Events
Wednesday, August 7th - Webcast: “Making The Most Of Panic – Exploring The Value Of Combining Price & Supply/Demand Indicators” with Chris Diodato, CMT
You’re all caught up now. Thanks for reading!