Daily Chart Report ? Monday, October 14th, 2019
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Today’s Summary
Monday, October 14th, 2019
Indices: US stocks were slightly lower in today’s session with the Dow Jones Industrial Average slipping just 23 points or 0.11%. The S&P 500 and Nasdaq changed 0.14% and 0.10%, respectively. The Russell 2000 was the weakest of the major averages falling 0.43%.
Sectors: Real Estate led, gaining 0.15%. Materials lagged after leading on Friday, falling 0.71%.
Commodities: Crude Oil futures fell 2.03% to $53.59 per barrel. Gold futures moved higher by 0.60% to $1,498 per ounce.
Currencies: The US Dollar Index rose 0.14%.
Interest Rates: The US 10-year Treasury yield was unchanged at 1.734%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Drew Wells (@DrewTheCharts). It’s a daily candlestick chart of the Large-Cap Russell 1000 index ($RUI). The bottom pane of the chart is a breadth indicator showing the percentage of stocks above their 200-day moving average. Drew points out that 50% of the Russell 1000 components remained above their 200-day moving average at the recent lows. 50% is a critical level to watch on this indicator. The Russell 1000 has bounced every time the indicator approaches 50%. However, things tend to get ugly fast when the percentage of stocks above their 200-day moving average falls below 50% like it did in Q4 2018. To learn more about the importance of watching this indicator, check out this report.
Quote of The Day
Top Links
Columbus Day Markets – Bespoke
Bespoke examines the typical performance of the S&P 500 in the week following Columbus Day.
Mish’s Daily: Quiet Holiday Trading Prevailed – Market Gauge
Michele Schneider sums up today’s quiet price action and lays out the levels to watch on some key industry groups.
Momentum Monday…Why Aren’t Markets Higher? – Howard Lindzon
In this video, Howard Lindzon and Ivanhoff do their weekly run-through of dozens of charts in order to identify the strongest trends and momentum stocks.
The Final Bar with Guest Ryan Detrick – StockCharts
In this episode of The Final Bar, host David Keller does a deep dive on the Communications sector and discusses the Presidential Cycle with guest, Ryan Detrick.
The Gap in the S&P 500 is Still Waiting to be Filled – Mott Capital Management
Michael Kramer shares his thoughts on the S&P 500 and highlights some individual stocks with bullish chart setups.
Top 10 Tweets
Upcoming Events
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!