Daily Chart Report ? Monday, December 2nd, 2019
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Today’s Summary
Monday, December 2nd, 2019
Indices: US stocks had their worst day in nearly two months with the Dow Jones Industrial Average falling 268 points or 0.96%. The S&P 500 and Nasdaq closed lower by 0.86% and 1.12%, respectively. The Russell 2000 fell 1.04%.
Sectors: Consumer Staples led, inching higher by 0.23%. Real Estate lagged, falling 1.84%.
Commodities: Crude Oil futures moved higher by 1.43% to $55.96 per barrel. Gold futures slipped 0.24% to $1,469 per ounce.
Currencies: The US Dollar Index dropped 0.42%.
Interest Rates: The US 10-year Treasury yield moved higher to 1.822%.
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 Saul Noyes (@SaulNoyes). It’s a daily candlestick chart of the 20+ Year US Treasury Bond ETF, $TLT. The S&P 500 fell 0.86% today, marking the worst day for stocks since mid-October. To be fair, that stat really just speaks to the lack of volatility over the past few weeks. Saul points out that we didn’t see the typical “flight to safety” that one might expect on a day like today. Bonds were even weaker than stocks with $TLT falling 1.33%. Another safe-haven asset, Gold, was unable to catch a bid, slipping 0.24%. The “flight to safety” was even absent at the sector level, with defensive sectors like Real Estate lagging the rest of the market. We’re only talking about one day here, but, as Saul notes, this sort of price action begs the question: “where are they going?”
Quote of the Day
Top Links
Technicals Check-In – LPL Financial Research
LPL Financial Research gives an update on the technicals of the stock market going into the final month of 2019.
Podcast with Neil Blalock, CMT – Chief Investment Officer & Owner of NJB Capital – Technical Analysis Radio
In this podcast, JC Parets interviews Neil Blalock, CIO
and owner of NJB Capital. They discuss how he uses technicals to trade and analyze commodities.
Volatility Contracts Across the Board – Andrew Thrasher
Andrew Thrasher shares his thoughts on the low volatility environment that we’ve seen over the past few weeks.
All ‘Bout That ‘Mo – SentimenTrader
Jason Goepfert of SentimenTrader argues that momentum will likely carry Stocks higher despite some short-term bearish signals.
A Better Than Average Decade – Bespoke
With one month to go in 2019, Bespoke compares the performance of the S&P 500 to its historical average across 1-year, 2-year, 5-year, 10-year, and 20-year time horizons.
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Top 10 Tweets
You’re all caught up now. Thanks for reading!