Daily Chart Report ? Friday, May 15th, 2020
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Today’s Summary
Friday, May 15th, 2020
Indices: US Stocks closed higher with the Dow Jones Industrial Average rising 60 points or 0.25%. The S&P 500 and Nasdaq rose 0.39% and 0.79%, respectively. Small-Caps outperformed with the Russell 2000 closing higher by 1.57%.
Sectors: Communications led, gaining 1.38%. Utilities lagged, falling 1.33%.
Commodities: The June Crude Oil futures contract jumped 7.58% to $29.65 per barrel. Gold futures moved higher by 0.76% to $1,754 per ounce.
Currencies: The US Dollar Index inched lower by 0.10%.
Interest Rates: The US 10-year Treasury rose to 0.647%.
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 @huamicharts. It’s a daily candlestick chart of the Silver Miners ETF, $SIL over the past six months. The recent breakout in Gold Miners ($GDX) has been impressive. As Louis points out, Silver Miners are now joining the party, with $SIL gapping above a key resistance level around $33 today. The chart in the bottom right shows that $SIL has been exhibiting strength versus the broader market ($SPY) over the past couple of months. If $SIL can remain above that $33 level, the risk is to the upside. However, if $SIL can’t hold above this level, look out below!
Quote of the Day
– Peter Lynch (Investor)
Top Links
What Happened in the Market This Week? – NYSE
In this video, Market Maker, Jay Woods discusses this week’s price action in stocks.
High Low Friday – Dana Lyons
Dana Lyons highlights some noteworthy new highs and lows across the markets this week.
Where Do We (Investors) Stand? – David Cox
In this quick video, Portfolio Manager, David Cox breaks down this week’s price action and shares some key charts to focus on.
A Look at Recent Weakness – LPL Financial Research
The team at LPL Financial Research explains why the recovery rally off the March low has begun to stall.
Breadth Picking Up But Still Low – Bespoke
In this note, Bespoke checks up on market breadth by examining the 10-day advance/decline lines of each S&P 500 sector.
Top 10 Tweets
You’re all caught up now. Thanks for reading!