Daily Chart Report ? Monday, November 4th, 2019
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Today’s Summary
Monday, November 4th, 2019
Indices: US stocks kicked off the week on a positive note, with the Dow Jones Industrial Average advancing 115 points or 0.42%. The S&P 500 and Nasdaq rose 0.37% and 0.56%, respectively. The Russell 2000 moved higher by 0.51%.
Sectors: Energy led for the second straight session, gaining 3.13%. Real Estate lagged for the second straight session, falling 1.30%.
Commodities: Crude Oil futures moved higher by 0.57% to $56.53 per barrel. Gold futures were flat, changing just 0.04% and trading at $1,511 per ounce.
Currencies: The US Dollar Index rose 0.31%.
Interest Rates: The US 10-year Treasury yield moved higher to 1.779%.
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 in a research note by Frank Cappelleri of Instinet. It is a seasonality chart from EquityClock.com that compiles 20-years of data to show how the S&P 500 tends to perform throughout the year. In the note, Frank explains: “The S&P 500 adhered to October’s historical path as well it could have last month – getting hit hard early on, bottoming and extending the rest of the month. While we can’t expect the market to comply to history so tightly in November, we should at least be aware of the 20-year average.” He adds that: “on AVERAGE, we tend to see an early extension of the late October strength, a mid-month slowdown and then a month-end rally. Given the strong push in October’s final three weeks, a pause in the action soon would not be unexpected.”
Quote of The Day
“The worst crime that an analyst can commit is remaining bearish in the face of a rising market.”
– Richard Russell (Dow Theorist)
Top Links
Pre-Election Year Patterns: A November Market Pause – Almanac Trader
Seasonality expert, Jeff Hirsch explains how stocks tend to fare during November in Pre-election years like 2019.
Stocks at New Highs & Bulls at New Lows – Technical Analysis Radio
In this podcast, Phil Pearlman and JC Parets discuss the absence of bullish sentiment despite the stock market hitting all-time highs.
How Often Does the VIX Spike From a 3-Month Low? – Andrew Thrasher
With the Volatility Index at a 3-month low, Andrew Thrasher uses data to argue that just because the VIX is “low” doesn’t necessarily mean that a volatility spike is imminent.
2 Participation Problems – SentimenTrader
Jason Goepfert of SentimenTrader points to two breadth metrics that need to improve in order for stocks to continue higher.
Dan Russo Talks Semiconductors- TD Ameritrade Network
Dan Russo of Chaikin Analytics explains that Semiconductor stocks are breaking out to new highs and lays out his favorite stocks within the group.
Top 10 Tweets
Upcoming Events
Wednesday, November, 20th – New York Chapter Meeting featuring Gina Martin Adams, CMT, CFA
Thursday, November, 21st – Washington DC/Baltimore Chapter Meeting featuring Katie Stockton, CMT
You’re all caught up now. Thanks for reading!