Copy of Daily Chart Report ? Monday, December 16th, 2019
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Today’s Summary
Monday, December 16th, 2019
Indices: US stocks kicked off the week on a positive note with the Dow Jones Industrial Average gaining 101 points or 0.36%. The S&P 500 and Nasdaq were higher by 0.71% and 0.91%, respectively. The Russell 2000 rose 0.73%.
Sectors: 10 out of the 11 sectors closed higher. Energy led, gaining 1.34%. Industrials were the only sector to close lower, slipping just 0.05%.
Commodities: Crude Oil futures moved higher by 0.35% to $60.28 per barrel. Gold futures were flat and continue to trade around $1,481 per ounce.
Currencies: The US Dollar Index moved just 0.03%.
Interest Rates: The US 10-year Treasury Yield moved higher to 1.873%.
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 Dan Russo of Chaikin Analytics (@DanRusso_CMT). It’s a daily bar chart of the Semiconductor ETF, $SMH, over the past year. The ETF closed at an all-time high yet again today. It has been outperforming the broader market almost all year, and it’s currently up 61.53%, year-to-date. Semiconductors are the chips that are used in virtually every electronic device. The fact that these stocks are trading at all-time highs and outperforming the broader market certainly favors the bull case for stocks. Dan explains, “If semis are leading, it’s hard to get bearish.”
Quote of the Day
Top Links
European Stocks Breaking a Twenty Year High – The Reformed Broker
Josh Brown shares his thoughts on the recent breakout in European equities.
Momentum Monday – The Uptrend Continues – Howard Lindzon
Howard Lindzon and Ivanhoff run through dozens of charts to identify some of the strongest trends.
Willie Delwiche On Bullish And Bearish Scenarios For 2020 – TD Ameritrade Network
In this clip, Willie Delwiche of Baird discusses some of the things he’s focusing on going into next year, including the Value Line Geometric Index, volatility, and breadth.
S&P 500 E-Minis Pop Out of Range – Bloomberg
Abigail Doolittle and Greg Calderone break down a chart of S&P 500 futures over the past year and examine recent options activity.
Stick with Semiconductors, Says Oppenheimer's Ari Wald – CNBC
Ari Wald of Oppenheimer explains why he’s bullish on Semiconductor stocks and offers up one of his favorite stocks within the space, $MCHP.
Top 10 Tweets
You’re all caught up now. Thanks for reading!