Daily Chart Report ? Thursday, December 5th, 2019
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Today’s Summary
Thursday, December 5th, 2019
Indices: US stocks were little changed in today’s session with the Dow Jones Industrial Average moving up just 28 points or 0.10%. The S&P 500 and Nasdaq inched higher by 0.15% and 0.05%, respectively. The Russell 2000 eked out a small gain of 0.06%.
Sectors: Materials led, gaining 0.51%. Energy lagged falling 0.48%.
Commodities: Crude Oil futures moved lower by 0.78% to $58.37 per barrel. Gold futures were more or less unchanged and continue to trade around $1,480 per ounce.
Currencies: The US Dollar Index fell 0.26%.
Interest Rates: The US 10-year Treasury yield rose to 1.812%.
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 Brian Shannon (@alphatrends). It’s a daily candlestick chart of the popular Gold ETF, $GLD. Brian points out that $GLD found buyers at a confluence of two key support levels; the 38.2% Fibonacci retracement of the April-August rally and the VWAP anchored to the April low. This VWAP represents the average price buyers and sellers transacted at since the April low. The ETF is up about 2% from this support level. However, Brian warns the bulls that there’s a decent amount of overhead supply around $141 that could prove to be a speed bump for $GLD. Bulls and bears will both end up disappointed in the short term if price continues to move sideways between these levels of support and resistance.
Quote of the Day
Top Links
A Minor Pullback and an Abandonded Baby – The Chart Report
In this report, we examine the recent pullback and a unique candlestick pattern that recently formed known as a Bullish Abandoned Baby.
Health Care & Merck Working on Bullish Breakouts! – Kimble Charting Solutions
Chris Kimble points out that the Health Care sector is beginning to show relative strength. He also breaks down a chart of one of the largest components in the Health Care sector, Merck & Co.($MRK).
Less Optimistic But Not Pessimistic – Bespoke
In this note, Bespoke analyzes the results of the latest AAII Sentiment Survey.
Transports Outperform Over Long Haul, Fidelity’s Gagliardi Says – Bloomberg
John Gagliardi of Fidelity made an appearance on Bloomberg to discuss Transports and the MSCI World Index ETF, $URTH.
What if Financials Break Out to All-time Highs as Well? – All Star Charts
JC Parets takes a look at the Financial sector and some of the sub-sectors within it.
Top 10 Tweets
You’re all caught up now. Thanks for reading!