Daily Chart Report ? Monday, September 23rd, 2019
Sponsored By:
Today’s Summary
Monday, September 23rd, 2019
Indices: US stocks were little changed in today’s session with the Dow Jones Industrial Average gaining 15 points or 0.06%. The S&P 500 changed just 0.01% and the Nasdaq inched lower by 0.06%.
Sectors: Consumer Staples led, gaining 0.40%. Health Care lagged, falling 0.53%.
Commodities: Crude Oil futures rose 0.77% to $58.64 per barrel. Gold futures rallied 1.09% to $1,531 per ounce.
Currencies: The US Dollar Index inched higher by 0.12%.
Interest Rates: The US 10-year Treasury yield moved lower to 1.723%.
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 our very own Steve Strazza (@sstrazza) It’s a chart of the Silver/Gold ratio. This is a popular risk-on/risk-off gauge for Precious Metals. When the line is rising, it means Silver is outperforming Gold. Silver is perceived to be more volatile and aggressive than Gold. Therefore, when Silver is outperforming Gold, it indicates risk appetite for Precious Metals. Gold and Silver screamed higher today. Gold futures rallied 1.09%, and Silver futures surged 4.85%. Steve points out that this ratio is “ripping higher from a failed breakdown.” This is exactly how Silver should act when Precious Metals are in a bull market.
Quote of The Day
Top Links
Seasonal Headwinds – The Chart Report
In this report, we focus on seasonality and point out that we’re entering a historically weak period for the S&P 500.
Momentum Monday – Flip a Coin and More on IPO’s – Howard Lindzon
In this video, Howard Lindzon and Ivanhoff flip through dozens of charts to identify some of the strongest trends and momentum stocks.
Has the Up Trend for Growth vs Value Stocks Ended? – Andrew Thrasher
Andrew Thrasher explains why the recent shift from Growth to Value is likely temporary.
Consumer Staples to Signal a New Bull Market – All Star Charts
JC Parets of All Star Charts examines the relative performance of the Consumer Staples sector and what it means for the direction of the broader market.
Stocks May Be Poised for Dramatic Surge, Technical Analysts Say – CNBC
In this piece from CNBC, several respected Technicians share their thoughts on the current market environment.
Top 10 Tweets
You’re all caught up now. Thanks for reading!