Daily Chart Report ? Wednesday, November 27th, 2019
Sponsored By:
Today’s Summary
Wednesday, November 27th, 2019
Indices: US stocks closed higher in today’s session with the Dow Jones Industrial Average advancing 42 points or 0.15%. The S&P 500 and Nasdaq gained 0.42% and 0.66%, respectively. The Russell 2000 was up 0.61%.
Sectors: 10 out of the 11 sectors closed higher. Consumer Discretionary led, gaining 0.86%. Industrials were the only sector to close lower, slipping just 0.10%.
Commodities: Crude Oil futures fell 0.51% to $58.11 per barrel. Gold futures were unchanged at $1,461 per ounce.
Currencies: The US Dollar Index was slightly higher by 0.06%.
Interest Rates: The US 10-year Treasury yield rose to 1.767%.
*As a reminder, both the Stock Market and the Bond Market will be closed tomorrow in observance of Thanksgiving. Friday, November 28th will be a half-day for both markets.*
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 Charlie Bilello (@charliebilello). In white is the S&P 500, in purple is the Dow Jones Industrial Average, in pink is the Nasdaq Composite, and in red is the Wilshire 5000. Charlie points out that investors have a reason to be thankful this year with all four of these major US indices closing at all-time highs before tomorrow’s holiday. To be fair, one major US index that didn’t make this list is the Russell 2000. The index is still about 6% below its all-time high; however, the index saw an important breakout this week from key resistance. Keep in mind, hitting all-time highs is the single most bullish thing a stock or index can do.
Quote of the Day
"Be thankful for what you have; you'll end up having more. If you concentrate on what you don't have, you will never, ever have enough."
Top Links
Russell 2000 Futures Headed Higher, Macro Risk’s Kolovos Says – Bloomberg
John Kolovos, Chief Technician at Macro Risk Advisors made an appearance on Bloomberg to share his thoughts on the recent breakout in the Small-Cap Russell 2000 index.
Stocks and a Window of Opportunity – Ciovacco Capital Management
In this video, Chris Ciovacco breaks down why he thinks stocks still have significant potential upside from here.
What Will Take the Dow to 30,000? – All Star Charts
JC Parets argues that the Technology sector will likely lead the Dow Jones Industrial Average to 30,000.
Copper/Gold: Macro Inflection Reflections – Topdown Charts
Callum Thomas examines the Copper/Gold ratio and what it could be signaling about global growth right now.
What the Breakout in Small-Caps Might Mean – SentimenTrader
Jason Goepfert of SentimenTrader takes a look at how the Russell 2000 tends to perform 6-12 months after hitting a new 52-week high like it did this week.
Trend Spider’s Black Friday/Cyber Monday Sale
Waiting for the right time to try TrendSpider? Now is your chance…
Live now, enjoy their biggest sale of the year!
Between 11/25 and 12/2, New Customers can save up to 40% on your TrendSpider plan and level up your trading in the new year. Save time and make smarter trade decisions with beautiful charts, dynamic backtesting, and multi-factor alerts—all with no coding required.
Top 10 Tweets
Sector tilt for me favors financials right now. Have been in two ETFs all year for this: $IPAY and $KIE, payments & insurance.
Both doing very well as you can see, either at ATHs or hooking on the MACD and pivoting up to test ATHs. pic.twitter.com/22Ke7piU2D
— Tex+ (@theycallmetex) November 27, 2019
You’re all caught up now. Thanks for reading!