Daily Chart Report ? Monday, June 15th, 2020
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Today’s Summary
Monday, June 15th, 2020
Indices: US Stocks closed higher after clawing back the day’s earlier losses. The Dow Jones Industrial Average advanced 158 points or 0.62%. The S&P 500 and Nasdaq rose 0.83% and 1.43%, respectively. Small-Caps outperformed with the Russell 2000 gaining 2.30%.
Sectors: All 11 sectors closed higher. Communications led, rising 1.61%. Health Care lagged but still inched up 0.23%.
Commodities: Crude Oil futures moved higher by 2.37% to $37.12 per barrel. Gold futures slipped 0.58% to $1,727 per ounce.
Currencies: The US Dollar Index fell 0.48%.
Interest Rates: The US 10-year Treasury yield rose to 0.724%.
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 Drew Wells (@DrewTheCharts). It’s a daily candlestick chart of the S&P 500 over the past year. The S&P 500 staged an impressive reversal today, closing more than 3% off this morning’s low. Drew points out that bulls found support right where they needed to, at a trifecta of key moving averages. The 50, 100, and 200-day exponential moving averages have all clustered together around the 2,960 level, which is right where price reversed this morning. He adds that momentum remains in a bullish range with RSI above 50. Today’s price action is evidence that buyers are in control for now.
Quote of the Day
“The more a man really knows about speculation, the less certain he becomes in regard to any market movement.”
– Charles Dow (Founder of The Wall Street Journal)
Top Links
Frank Cappelleri Breaks Down the Financial Sector – TD Ameritrade Network
In this clip, Frank Cappelleri of Instinet offers his technical perspective on the market.
Weekly S&P 500 #ChartStorm – TopDown Charts
Callum Thomas shares ten charts that shed light on the current market environment.
The Chop is Back – Momentum Monday
In their weekly Momentum Monday video, Howard Lindzon, and Ivanhoff highlight some of the hottest stocks and trends in the market.
Semis Stocks’ Big Reversal – CNBC
Ari Wald of Oppenheimer shares his thoughts on Semiconductor stocks.
These Are the 6 Best Books to Read About Technical Analysis in the Stock Market – Business Insider
Want to learn more about Technical Analysis? Business Insider put together this list of noteworthy books to add to your summer reading list.