Daily Chart Report ? Tuesday, August 20th, 2019
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Today’s Summary
Tuesday, August 20th, 2019
Indices: US stocks were lower in today’s session with the Dow Jones Industrial Average closing down 173 points or 0.66%. The S&P 500 was the weakest of the major indices, falling 0.79%.
Sectors: 10 out of the 11 sectors of the S&P 500 closed lower. Consumer Discretionary led, gaining only 0.03%. Financials lagged, falling 1.34%.
Commodities: Crude Oil futures were relatively flat, moving just 0.11% to $56.11 per barrel. Gold futures rose 0.28% to $1,516 per ounce.
Currencies: The US Dollar Index fell 0.20%.
Interest Rates: The US 10-year Treasury yield moved lower to 1.552%.
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 Koyfin (@KoyfinCharts). It is a performance chart of the 11 sectors of the S&P 500 over the past 12 months. Koyfin notes that the Energy Sector “is the big outlier to the downside.” The Energy sector ETF, $XLE is down 17.74% while the S&P 500 is up 1.79%. This is likely due to the weakness in Crude Oil which has fallen nearly 15% over the same period. Even the Financial Sector, (second worst-performer) has fared significantly better than Energy. It’ll be interesting to keep an eye on this relationship going forward to see if Energy will catch-up to the rest of the pack.
Quote of The Day
Top Links
Range-Bound – The Chart Report
In this report, we highlight what some of the top-technicians are saying about the trading range that the S&P 500 is currently stuck in.
Are You Pinning Your Hopes on This Stock? – StockCharts.com
This piece from Greg Schnell of StockCharts takes a look at one IPO stock that’s attempting to break out to all-time highs, Pinterest ($PINS).
When Will Small-Caps Start to Outperform? – All Star Charts
In this clip, JC Parets and The Chart Report’s Steve Strazza discuss the weakness of Small-caps Stocks.
Hard to See a Rally in Transports Going Forward, Says Investing Pro – CNBC
Head of Technical Analysis at Oppenheimer, Ari Wald weighs in on the Dow Jones Transportation Average and Dow Theory.
Second Half August Trading: Historically Weak Too – Almanac Trader
Here’s a quick read from Seasonality Expert, Jeff Hirsch. He points out that historically, the back half of August tends to be weak for US Stocks.
Top 10 Tweets
You’re all caught up now. Thanks for reading!