Daily Chart Report ? Tuesday, November 19th, 2019
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Today’s Summary
Tuesday, November 19th, 2019
Indices: US stocks were mixed in today’s session with the Dow Jones Industrial Average falling 102 points or 0.36%. The S&P 500 was flat while the Nasdaq was up 0.24%. The Russell 2000 was strongest of the major indices, gaining 0.36%.
Sectors: Health Care led, gaining 0.68%. Energy lagged, falling 1.48%.
Commodities: Crude Oil futures dropped 3.08% to $55.37 per barrel. Gold futures inched up 0.16% to $1,474 per ounce.
Currencies: The US Dollar Index was flat.
Interest Rates: The US 10-year Treasury yield moved lower to 1.767%.
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 Wolfe Research @WolfeDailyHowl. It’s a chart of Japan’s Nikkei 225 index going back over 100 years. Wolfe Research points out that the index is breaking out of a massive 28-year base. Typically, the longer the sideways consolidation, the more potential upside. In other words: “the bigger the base the higher in space.” As you can see on the chart, major rallies in the Nikkei 225 have often followed breakouts from long-term bases, so if this one resolves higher that would suggest a new long-term uptrend has begun.
Quote of the Day
“The demand for certainty is one which is natural to man, but is nevertheless an intellectual vice.”
– Bertrand Russell (Philosopher)
Top Links
Three Amazing Streaks – LPL Financial Research
In this note, the team at LPL Financial Research points out some pretty amazing streaks that the market has been on recently.
Today Looks Nothing Like a Blow-Off Stock Market Top – Ciovacco Capital Management
Chris Ciovacco shows that today’s market looks vastly different from past market tops like the ones seen in 1929, 1987 or 2000.
Why We’re Buying Stocks and Selling Rocks – All Star Charts
In this piece, JC Parets lays out his bullish outlook on Equities and his bearish outlook on Gold.
VIX On A Historic Streak Of Relative Buoyancy– Dana Lyons
Dana Lyons examines some unusual behavior he’s seeing from the Volatility Index right now.
Week Before Thanksgiving Dow Up 19 of 26, But… – Almanac Trader
Seasonality Expert, Jeff Hirsch explains how the major US indices tend to perform in the week leading up to Thanksgiving.
Top 10 Tweets
Yes indeed. pic.twitter.com/FVj1V1lM40
— Arun S. Chopra CFA CMT? (@FusionptCapital) November 19, 2019
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!