Daily Chart Report ? Monday, April 27th, 2020
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Today’s Summary
Monday, April 27th, 2020
Indices: US Stocks kicked off the week on a positive note with the Dow Jones Industrial Average closing higher by 359 points or 1.51%. The S&P 500 and Nasdaq gained 1.47% and 1.11%, respectively. Small-Caps outperformed by a wide margin, with the Russell 2000 jumping 3.96%.
Sectors: All 11 sectors closed higher. Financials led, gaining 3.40%. Consumer Staples lagged but still inched higher by 0.29%.
Commodities: The June Crude Oil futures plummeted 23.56% to $12.78 per barrel. Gold futures fell 0.68% to $1,724 per ounce.
Currencies: The US Dollar Index slipped 0.24%.
Interest Rates: The US 10-year Treasury yield rose to 0.665%.
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 Louis (@haumicharts). On the left is a chart of the S&P 500 ETF, $SPY, and on the right is a chart of the 20+ year US Treasury Bond ETF, $TLT. Both the Stock Market and the Bond Market are currently testing key resistance levels. Despite the two moving higher together over the past few weeks, Louis points out that one of these two is likely to give at this point. Which will it be – Stocks or Bonds? Either way, the resolution will provide some much-needed clarity into the type of risk environment that we’re currently in. If Bonds break out to new highs here, it would demonstrate risk appetite for safe-haven asset classes such as Gold. On the other hand, if Stocks break out here, it would demonstrate risk appetite for more aggressive asset classes.
Quote of the Day
“Two roads diverged in a wood, and I — I took the one less traveled by, and that has made all the difference.”
– Robert Frost (Poet)
Top Links
Party at the Golden Moon Tower – All Star Charts
Here’s a good read from JC Parets, in which he shares his thoughts on the long-term breakout in Gold Mining stocks.
Weekly S&P 500 #ChartStorm – Topdown Charts
Callum Thomas highlights ten charts and themes that are worth paying attention to right now.
The Smaller the Better – Bespoke
Bespoke takes a look at the impressive outperformance of Micro-Cap stocks over the past few days.
Episode 85 Featuring Nick Radge – The Systematic Investor Podcast
In this podcast, trend follower, Nick Radge discusses the recent volatility in Crude Oil and how he’s approaching the current market environment.
“I’m Bullish” – The Irrelevant Investor
Michael Batnick weighs-in on the results from Barron’s biannual “Big Money Poll” that showed a somewhat surprising level of bullish sentiment for stocks.
Top 10 Tweets
You’re all caught up now. Thanks for reading!