Daily Chart Report ? Tuesday, October 1st, 2019

Today’s Summary
Tuesday, October 1st, 2019

Indices: US stocks closed lower in today’s session with the Dow Jones Industrial Average falling 1.28%. The Russell 2000 was the weakest of the major indices, dropping 1.97%.

Sectors: All 11 sectors fell. Utilities led but still slipped 0.26%. Industrials lagged, falling 2.40%

Commodities: Crude Oil futures moved lower by 0.96% to $53.60 per barrel. Gold futures rose 1.05% to $1,489 per ounce.

Currencies: The US Dollar Index fell by 0.21%.

Interest Rates: The US 10-year Treasury yield dropped to 1.635%.

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 David Keller (@DKellerCMT). It’s a daily bar chart of the S&P 500 index since April. David lays out the three directions of the market in order of least painful to most painful. He argues that sideways markets, like the one we’re currently in, are the most painful. The absence of a clear trend can indeed be frustrating. At least in a downtrend you know to either take short positions or sit out in cash. A sideways market is challenging because investors don’t want to be in cash in fear of missing out on the potential upside. However, at the same time, they don’t want to be overexposed to potential drawdowns either. Paul Tudor Jones once said, “Markets trend only about 15 percent of the time; the rest of the time they move sideways.” If this is true then we’d all better get used to being frustrated a majority of the time!

Quote of The Day

Top 10 Tweets