Daily Chart Report ? Tuesday, November 26th, 2019
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Today’s Summary
Tuesday, November 26th, 2019
Indices: US stocks were slightly higher in today’s session with the Dow Jones Industrial Average inching up 55 points or 0.20%. The S&P 500 and Nasdaq rose 0.22% and 0.18%, respectively. The Russell 2000 was the weakest of the major indices, changing just 0.14%.
Sectors: Real Estate led, gaining 1.39%. Energy lagged, falling 0.92%.
Commodities: Crude Oil futures moved higher by 0.99% to $58.21 per barrel. Gold futures rose 0.38% to $1,463 per ounce.
Currencies: The US Dollar Index was slightly higher by 0.14%.
Interest Rates: The US 10-year Treasury yield fell to 1.738%.
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 David Keller (@DKellerCMT). It’s a daily bar chart of the Financial sector ETF, $XLF, over the past two years. The top three holdings in this ETF include; Berkshire Hathaway ($BRK.B), JP Morgan Chase ($JPM), and Bank of America ($BAC). $XLF is currently breaking out of a massive two-year base. Chart setups like this one, where price breaks out of a long-term base, are often followed by impressive rallies. David explains that it’s hard to be bearish on the broader market right now when vital sectors, like Financials, are breaking out like this.
Quote of the Day
Top Links
Midweek Stock Market Recap – The Trade Risk
In this video, Evan Medieros recaps this week’s price action and highlights the most notable moves.
Was That All Foreign Equities Could Muster? -All Star Charts
Tom Bruni of All Star Charts makes the case that US stocks are still more favorable than international stocks.
Indices and Key Sector Levels Only – Market Gauge
Michele Schneider lays out some important levels to keep an eye on in some of the major indices and sectors.
Trading Thanksgiving: Long into Any Weakness, Exit into Strength by Week’s End – Almanac Trader
Seasonality Expert, Jeff Hirsch discusses how the stock market tends to perform in the days/weeks surrounding Thanksgiving.
Health Care (XLV) Ending the Year Strong – Bespoke
Bespoke explains that the Health Care sector is beginning to show signs of life after being one of the weakest sectors in 2019.
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Top 10 Tweets
I mean. pic.twitter.com/yyUjt9oAoS
— Arun S. Chopra CFA CMT? (@FusionptCapital) November 26, 2019
You’re all caught up now. Thanks for reading!