Daily Chart Report ? Friday, February 21st, 2020

Today’s Summary
Friday, February 21st, 2020

Indices: US stocks ended the week on a sour note with the Dow Jones Industrial Average falling 228 points or 0.78%. The S&P 500 and Nasdaq fell 1.05% and 1.79%, respectively. The Russell 2000 moved lower by 1.03%. 

Sectors: Real Estate led for the second day in a row, gaining 0.52%. Technology lagged for the second day in a row, falling 2.24%.

Commodities: Crude Oil futures moved lower by 0.50% to $53.46 per barrel. Gold futures continued to move higher, rising 1.45% to $1,646 per ounce.

Currencies: The US Dollar Index dropped 0.54%.

Interest Rates: The US 10-year Treasury yield moved lower to 1.473%.

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 30-minute candlestick chart of the S&P 500 ETF, SPY, over the past seven weeks. Brian uses a 5-day moving average (5-DMA) to gauge the direction of the intermediate trend. Highlighted In green are periods where price is above an upward sloping 5-DMA, and making a series of higher highs and higher lows. In red are periods where price is below a downward sloping 5-DMA and creating a series of lower highs and lower lows. Brian explains that his intermediate-term bias on $SPY is bearish because price is currently below a downward sloping 5-DMA and has made both a lower high and lower low. As you can see from each highlighted period, Brian’s criteria for identifying the intermediate trend has served as a good way for active traders to decide whether to be bullish, bearish, or neutral.

Quote of the Day