This week J.C Parets of All Star Charts wrote a piece about the Dow Industrial Average which he calls his “favorite of all the stock market indexes.” He may be be in the minority on this however as many market participants often criticize the price weighted configuration of the index. While other major indices are […]
Archives for April 2019
Daily Chart Report ? Wednesday, April 17th, 2019
Sponsored By: Today’s Summary Wednesday, April 17th, 2019 Indices: US stocks closed lower with the Dow Jones Industrial Average falling 3 points or 0.01%. The small-cap Russell 2000 was the laggard among the major indices, falling 0.95%. Sectors: Technology led, gaining 0.57%. Healthcare lagged falling 2.89%. Commodities: WTI Crude Oil futures fell 0.47% to settle at $63.75. Gold Futures were unchanged and continue to trade around $1,277 per ounce. […]
The Bloodbath in Healthcare
The Healthcare sector is a hot mess right now. It’s by far the worst performing S&P 500 sector YTD and is trading below both its 50 and 200-day moving averages. As you can see in the chart below, the Healthcare Sector SPDR ETF, $XLV has dipped into negative territory on the year while most of […]
Daily Chart Report ? Tuesday, April 16th, 2019
Sponsored By: Today’s Summary Tuesday, April 16th, 2019 Indices: US stocks closed higher with the Dow Jones Industrial Average gaining 68 points or 0.26%. The S&P 500 was flat, changing just 0.05%. Sectors: Financials led, gaining 1.41%. Real Estate lagged for the second day in a row, falling 2.43%. Commodities: WTI Crude Oil futures were higher by 1.21% to finish the day at $64.17 per barrel. Gold futures fell 1.1% to settle […]
A Gigantic Thrust in Breadth
This past weekend, Chris Ciovacco, owner of Ciovacco Capital, gave us his take on the strength we are seeing in the broad market. Looking at market breadth, and specifically the number of stocks trading above their respective 200-day moving average, have we seen “the mother of all breadth thrusts”? Chris seems to think so. First […]