Daily Chart Report ? Friday, June 12th, 2020
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Today’s Summary
Friday, June 12th, 2020
Indices: US Stocks closed higher in today’s session with the Dow Jones Industrial Average rebounding 477 points or 1.90%. The S&P 500 and Nasdaq rose 1.31% and 1.01%, respectively. Small-Caps outperformed with the Russell 2000 moving higher by 2.32%.
Sectors: Real Estate led, gaining 3.16%. Utilities was the only sector to close lower, slipping 0.26%.
Commodities: Crude Oil futures fell 0.22% to $36.26 per barrel. Gold futures inched lower by just 0.14% to $1,737 per ounce.
Currencies: The US Dollar Index moved higher by 0.29%.
Interest Rates: The US 10-year Treasury yield rose to 0.708%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Nautilus Research (@NautilusCap). It’s a chart of the Volatility Index ($VIX) over the past 20 years, along with a 1-day rate of change indicator in blue. The VIX surged 47.95% yesterday – marking its largest daily % gain in over two years. The red circles highlight all the times that the VIX has spiked more than 45% in a day for the first time in three months. The table shows the forward returns of the VIX and the S&P 500 after each of the prior nine occurrences. The VIX has always been lower three-months after these volatility spikes. Six months later, the S&P 500 was higher 76% of the time for an average gain of 6.46%.
Quote of the Day
– Maya Angelou (Poet)
Top Links
Is This The Start of a New Bear Market? – LPL Financial Research
The team at LPL Financial Research explains that a short-term pullback could be healthy for the market longer-term, especially given the historic 45% surge we’ve had off the March lows.
Where Do We (Investors) Stand – David Cox
In this quick video, Portfolio Manager, David Cox highlights some noteworthy technical developments going on across the markets.
Time to Buy Bitcoin? – All Star Charts
JC Parets shares his technical perspective on Bitcoin.
Options Insight w/ Carley Garner – Bloomberg
Abigail Doolittle and Carley Garner discuss the outlook for the S&P 500 following Thursday’s sell-off.
Stock Market Video Analysis for Week Ending 06/12/20 – AlphaTrends.net
Here’s Brian Shannon weekly video recap, in which he lays out some key levels of interest to keep an eye on next week
Top 10 Tweets
You’re all caught up now. Thanks for reading!