Daily Chart Report ? Monday, November 18th, 2019
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Today’s Summary
Monday, November 18th, 2019
Indices: US stocks were little changed in today’s session with the Dow Jones Industrial Average inching up 31 points or 0.11%. The S&P 500 and Nasdaq changed just 0.05% and 0.11%, respectively. The Russell 2000 was the weakest of the major averages, falling 0.26%.
Sectors: Real Estate lagged, gaining 0.54%. Energy lagged, falling 1.22%.
Commodities: Crude Oil futures moved higher by 1.07% to $57.13 per barrel. Gold futures rose 0.24% to $1,472 per ounce.
Currencies: The US Dollar Index slipped 0.19%.
Interest Rates: The US 10-year Treasury yield moved lower to 1.815%.
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 @theycallmetex. It’s a weekly bar chart of the Health Care sector ETF, $XLV. The top three holdings in this ETF include Johnson & Johnson ($JNJ), UnitedHealth Group ($UNH), and Merck ($MRK). Health Care is the second-worst performing sector over the past year. However, on Friday, the sector printed its first all-time high in nearly a year. As you can see from the chart, $XLV is looking like it will make another leg higher as it breaks out of a multi-month base. It’s hard to be bearish on the broader market when even the most hated sectors are breaking out to all-time highs.
Quote of the Day
“Life is very short and anxious for those who forget the past, neglect the present, and fear the future.”
– Seneca (Philosopher)
Top Links
John Roque on the Decline of Technical Indicators – The Reformed Broker
Barry Ritholtz interviews legendary Technical Analyst, John Roque. They discuss how Technical Analysis has evolved over the years and some of the shortcomings of technical indicators.
Bearish Charts? Or Disconfirmation Bias? – Murphy Charts
In this piece, Shane Murphy considers the bear case for US Equities by taking a look at several charts that have yet to confirm the broader market’s recent move higher.
Semiconductors Lead Markets to All-Time Highs – Yahoo Finance
Dan Russo of Chaikin Analytics made an appearance on Yahoo Finance today to share his thoughts on Semiconductor stocks.
The Volatility Episode w/ Andrew Thrasher – Technical Analysis Radio
In this podcast, JC Parets and Volatility Expert, Andrew Thrasher chat about the current market environment and whether or not investors are too complacent right now.
Jerry Parker’s Currency Market Update – TD Ameritrade Network
Renowned Turtle Trader, Jerry Parker of Chesapeake Capital, weighs in on the markets through the perspective of a trend follower.
Top 10 Tweets
Peloton trades above it's IPO price for the first time since it's listing.$IPO $PTON pic.twitter.com/b8fNyGmOcX
— J4 (@J4_fibo) November 18, 2019
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!