Daily Chart Report ? Friday, December 13th, 2019
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Today’s Summary
Friday, December 13th, 2019
Indices: US stocks were little changed in today’s session with the Dow Jones changing just 3 points or 0.01%. The S&P 500 was also flat, while the Nasdaq inched higher by 0.20%. The Russell 2000 was the weakest of the major averages, closing lower by 0.42%.
Sectors: Utilities led, gaining 0.78%. Materials lagged, falling 0.77%.
Commodities: Crude Oil futures moved higher by 1.50% to $60.07 per barrel. Gold futures gained 0.60% to $1,481 per ounce.
Currencies: The US Dollar Index fell 0.23%.
Interest Rates: The US 10-year Treasury Yield moved lower to 1.824%.
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 Renaissance Macro Research (@RenMacLLC). It’s a daily candlestick chart of the Chinese Technology ETF, $CQQQ. Renaissance highlights the fact that the ETF is testing a key resistance level. They remind us that it’s important to remain objective when observing these support/resistance levels. It’s better to be patient and wait for price to confirm a breakout, rather than trying to predict which way price will resolve. These are levels of polarity, where if price trades above it, the risk is to the upside. On the other hand, if price fails to break out, the risk is to the downside. Eventually, you’ll get confirmation but until then, remain unbiased!
Quote of the Day
Top Links
Weekend Stock Market Recap and Sector Analysis – The Trade Risk
Evan Medeiros Sums up this week’s price action and points to a few charts to keep an eye on next week.
High Low Friday 12/13/19 – Dana Lyons
Dana Lyons highlight some notable stocks and indexes that are trading at their highs/lows.
Are You Following the Trend or Waiting for Perfection? – StockCharts.com
Arthur Hill breaks down a chart of $SPY from the perspective of a trend follower.
Euro Breakout in Play? Gold Bugs Sue Hope So – Kimble Charting Solutions
Chris Kimble points out that the Euro is at a key inflection point and says that Gold bulls should hope that the Euro goes higher.
The Chip Rip Has Just Begun, Options Trader Says – CNBC
Christian Fromhertz of Tribecca Trade Group explains why he’s bullish on Semiconductor stocks and lays out a bullish options trade on $AMD.
Top 10 Tweets
If you want to learn about trading and making real money (not just pattern trading) study every area bears tried to sell this market since the Dec low.
Younger traders you will see 3-5 of these opportunities every decade (more if you cross asset classes + if single stock)$SPX pic.twitter.com/oRXPvLRMNI
— Arun S. Chopra CFA CMT? (@FusionptCapital) December 13, 2019
You’re all caught up now. Thanks for reading!