Daily Chart Report ? Monday, November 11th, 2019
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Today’s Summary
Monday, November 11th, 2019
Indices: US stocks were slightly lower in today’s quiet session. The Dow Jones Industrial Average was more or less flat, changing just 10 points or 0.04%. The S&P 500 and Nasdaq fell 0.20% and 0.13%, respectively. The Russell 2000 was the weakest of the major averages, slipping 0.26%.
Sectors: Real Estate led, gaining 0.19%. Utilities lagged for the third straight session falling 0.62%.
Commodities: Crude Oil moved lower by 0.66% to $56.83 per barrel. Gold futures slipped 0.38% to $1,457 per ounce.
Currencies: The US Dollar Index fell 0.14%.
Interest Rates: The US 10-year Treasury yield was unchanged.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Mark Ungewitter (@mark_ungewitter). It’s a chart of the S&P 500 over the past nine years. In the bottom pane is a ratio chart of value vs. growth ($IVE/$IVW) with blue boxes highlighting periods where value outperformed growth. Value has been outperforming growth for the past couple of months. There’s a common misconception out there that growth needs to outperform value for the broader market to move higher. However, Mark points out that it’s perfectly normal to see the broader market move higher during periods in which value is outperforming growth, especially at the start of a cyclical bull market.
Quote of The Day
“There are two ways to invest: you can predict or you can react.”
– Bruce Berkowitz (Hedge Fund Manager)
Top Links
Sectors and Groups to Watch – The Final Bar
Michele Schneider and David Keller discuss the most important sectors and industry groups to watch right now.
European Financials and Risk Appetite – All Star Charts
Tom Bruni of All Star Charts shares his thoughts on the recent strength in European Financials and why it’s bullish for Equities as a whole.
2019 YTD Country Stock Market Performance – Bespoke
Bespoke breaks down the YTD performance of global equity markets. They found that the average country that they track is currently up double digits in 2019 (+10.8%.)
The Long-Term Message From Transportation Stocks – Ciovacco Capital Management
Chris Ciovacco examines how stocks and bonds tend to perform after the Dow Jones Transportation Average breaks out from significant resistance.
How Much Higher Can Yields Go? – Forbes
Technical Analyst and Forbes Contributor, Tom Aspray discusses his outlook for US Treasury Yields.
Top 10 Tweets
Upcoming Events
Tuesday, November 19th – Benzinga Global Fintech Awards
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!