Daily Chart Report ?Friday, October 25th, 2019
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Today’s Summary
Friday, October 25th, 2019
Indices: US stocks ended the week on a positive note with the Dow Jones Industrial Average gaining 0.57%. The S&P 500 was higher by 0.41%. The Nasdaq was the strongest of the major indices, advancing 0.70% and closing at an all-time high.
Sectors: Technology led for the second day in a row, gaining 1.21% to close at an all-time high. Real Estate lagged, falling 1.23%.
Commodities: Crude Oil futures moved higher by 0.76% to $56.66 per barrel. Gold futures inched higher by just 0.08% to $1,506 per ounce.
Currencies: The US Dollar Index rose 0.20%.
Interest Rates: The US 10-year Treasury yield moved higher to 1.80%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Peter Brandt (@PeterBrandt). It’s a weekly candlestick chart of the Nasdaq 100 index ($NDX). The Nasdaq closed at an all-time today for the first time since late-July. Peter sarcastically makes the point that all-time highs are not something you see in bear markets. Instead, all-time highs are confirmation of a bull market. Peter’s comment reminds me of the old adage: “markets advance on a wall of worry and decline on a slope of hope.” In the three months since the last all-time high, sentiment got extremely bearish. There was no shortage of daunting headlines, from the inverted yield curve to the China trade war to a potential presidential impeachment. Yet, here we are with the Nasdaq ending the week at all-time highs.
Quote of The Day
“One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.”
– William Feather (Publisher)
Top Links
High Low Friday – 10/25/2019 – Dana Lyons
Dana Lyons highlights several stocks and indices that are trading at new 52-week highs/lows.
Are Bank Stocks About to Give a Thumbs Up to Investors – Kimble Charting Solutions
Chris Kimble explains that the Bank Index ($BKX) is breaking out, which should bode well for the broader market.
Stock Market Video Analysis October 25, 2019 – AlphaTrends.net
Here’s Brian Shannon’s weekly video where he recaps the past week and shares some things to watch for next week.
A Steeper Yield Curve May Explain Recent Rotation into Financial Stocks – StockCharts.com
John Murphy argues that the recent rotation into financials, small-caps, transports, and value stocks is a result of a steeper yield curve.
Bullish Halloween Trading Strategy Treat Next Week – Almanac Trader
Seasonality Expert, Jeff Hirsch points out that on average, US stocks tend to do well in the last four trading days in October and the first three trading days in November.
Top 10 Tweets
Upcoming Events
Saturday, October 26th – Trade Ideas Summit 2019
Monday, October 28th – United Kingdom Chapter Meeting featuring Ralph Acampora, CMT
You’re all caught up now. Thanks for reading!