Daily Chart Report ? Wednesday, October 9th, 2019

Today’s Summary
Wednesday, October 9th, 2019

Indices: US stocks closed higher in today's session with the Dow Jones Industrial Average advancing 182 points or 0.70%. The Nasdaq was the strongest of the major averages, gaining 1.02%.

Sectors: All 11 sectors of the S&P 500 closed higher. Technology led, gaining 1.49%. Real Estate lagged but still gained 0.31%.

Commodities: Crude Oil futures changed just 0.08% to $52.59 per barrel. Gold futures moved higher by 0.59% to $1,513 per ounce.

Currencies: The US Dollar Index changed just 0.02%.

Interest Rates: The US 10-year Treasury yield rose to 1.587%.

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 @vixsquared. It's a daily candlestick chart of the S&P 500 with a line chart of the Value Line Geometric Composite ($VALUG) overlayed. The Value Line Geometric Composite is an equally weighted index of about 1700 stocks. It uses a geometric average, so the daily change reflects the median stock price change. Some argue that it provides a broader and more accurate representation of the market than popular benchmarks like the S&P 500. As you can see from the chart, $VALUG has been diverging from the S&P 500 as it puts in a series of lower highs while the S&P 500 makes a series of higher highs. This is one development that several Technicians have been pointing too as a potential warning sign for the market. For more on this divergence and what it means check out this blog post from Andrew Thrasher. 

Quote of The Day

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