Daily Chart Report ? Friday, December 6th, 2019
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Today’s Summary
Friday, December 6th, 2019
Indices: US stocks ended the week on a positive note with the Dow Jones Industrial Average rallying 337 points or 1.22%. The S&P 500 and Nasdaq were higher by 0.91% and 1.00%, respectively. The Russell 2000 gained 1.18%.
Sectors: 10 out of the 11 sectors advanced. Energy led, gaining 1.91%. Utilities were the only sector to close lower, falling 0.30%.
Commodities: Crude Oil futures moved higher by 1.25% to $59.10 per barrel. Gold futures dropped 1.21% $1,465 per ounce.
Currencies: The US Dollar Index rose 0.27%.
Interest Rates: The US 10-year Treasury moved higher to 1.843%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
oday’s Chart of the Day was shared on Twitter by Michael Santoli (@michaelsantoli). It’s an intraday chart of the S&P 500 index over the past four weeks. This past week was certainly an interesting one. The S&P 500 fell 0.86% on Monday, gapped lower on Tuesday, but then gapped back above Tuesday’s range on Wednesday. The index continued higher on Thursday, and today, we closed the week even higher than where we began on Monday. Market participants hadn’t seen volatility like this in weeks. Michael highlights the bullish island reversal that was formed by Tuesday’s price action. Traders who sold or got aggressively short on Tuesday’s gap lower were trapped by the subsequent gap higher on Wednesday, providing dry powder for the market to move higher. For more on this week’s pullback, check out our recent report.
Quote of the Day
Top Links
Small Caps Showing Strength – The Chart Report
In this week’s Chart of the Week column, we take a look at some of the bullish developments surrounding small cap stocks.
High Low Friday 12/6/19 – Dana Lyons
Dana Lyons highlights a few notable indices and ETFs that are trading at highs/lows.
Stock Market Video Analysis for Week Ending 12/6/19 – AlphaTrends.net
Here’s Brian Shannon’s weekly stock market analysis video, where he recaps price action from the past week and lays out some charts to keep an eye on next week.
AMD Just Did Something it Hasn’t Done in Nearly Two Decades. Here’s How One Technical Analyst is Trading It – CNBC
Todd Gordon of TradingAnalysis.com breaks down a chart of AMD and outlines a way to trade it using options.
5 Dow Names That Are Ready to Breakout – StockCharts.com
Greg Schnell lays out five Dow components that are ready to break out including; Chevron ($CVX), Goldman Sachs ($GS), Johnson & Johnson ($JNJ), Procter & Gamble ($PG), and Visa ($V).
Top 10 Tweets
You’re all caught up now. Thanks for reading!