Daily Chart Report ? Friday, October 11th, 2019
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Today’s Summary
Friday, October 11th, 2019
Indices: US stocks ended the week on a positive note with the Dow Jones Industrial Average rallying 320 points or 1.21%. The Russell 2000 was the strongest of the major averages, jumping 1.79%.
Sectors: Materials led, gaining 1.94%. Utilities lagged for the second day in a row, slipping 0.37%.
Commodities: Crude Oil futures moved higher by 2.20% to $54.75 per barrel. Gold futures fell 0.81% to $1,489 per ounce.
Currencies: The US Dollar Index moved lower by 0.37%.
Interest Rates: The US 10-year Treasury yield rose to 1.732%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Aksel Kibar (@TechCharts). On the left is a daily candlestick chart of the Nasdaq 100 ($NDX). On the right is a daily candlestick chart of the S&P 500 ($SPX). Many bulls came out from hiding today after the market gapped higher this morning. However, Aksel emphasizes that the major averages still haven’t broken out of the consolidation ranges that they’ve been stuck in since July. This chart serves as an excellent reminder to stay focused on the bigger picture and that one day does not make a trend.
Quote of The Day
Top Links
Hitting the Seasonal Sweet Spot – Bespoke
Bespoke explains that we’re entering a bullish time of year for Stocks. According to their seasonality research, the market has a median gain of +1.50% over the next week, +2.66% over the next month, and +6.99% over the next three months.
$TLT Retesting Breakout and Trendline – Fibonacci.com
Tarek Saab of Fibonacci.com breaks down a chart of the 20+ Year Treasury Bond ETF, $TLT and lays out some key levels to watch.
Stocks to Watch Amid Market Volatility – Investor’s Business Daily
In this podcast, David Keller and Host, Irusha Peiris discuss David’s research process as well as the current market environment.
Martin Pring: Short-Term Indicators Behave Differently in Bull and Bear Markets – StockCharts.com
Martin Pring of StockCharts.com explores how technical indicators behave differently depending on the direction of the primary trend.
Stock Market Analysis – October 11th, 2019 – Brian Shannon
Here’s Brian Shannon’s weekly market video where he recaps this past week and gives his outlook for the week ahead.
Top 10 Tweets
Upcoming Events
Monday, October 14th – Dallas Chapter Meeting Featuring Jeffery Hirsch
Tuesday, October 15th – Minnesota Chapter Meeting Featuring Dave Keller, CMT
Tuesday, October 22nd – New York Chapter Meeting Featuring Sam Stovall
You’re all caught up now. Thanks for reading!