Daily Chart Report ? Thursday, June 18th, 2020
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Today’s Summar
Thursday, June 18th, 2020
Indices: US Stocks were little changed in today’s session with the Dow Jones Industrial Average inching lower by just 40 points or 0.15%. The S&P 500 and Nasdaq closed slightly higher by 0.06% and 0.33%, respectively. The Russell 2000 was also flat, changing just 0.04%.
Sectors: Energy led, gaining 1.23%. Real Estate lagged, falling 1.24%.
Commodities: Crude Oil futures moved higher by 2.87% to $39.05 per barrel. Gold futures slipped 0.26% to $1,731 per ounce.
Currencies: The US Dollar Index rose 0.39%.
Interest Rates: The US 10-year Treasury yield fell to 0.715%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Koyfin (@KoyfinCharts). It’s a daily candlestick chart of the Silver Miners ETF ($SIL) over the past year. About a month ago, $SIL broke a key resistance level around $33 and quickly ran to $37 just a few days later. Since then, it has pulled back to retest that breakout level around $33. Koyfin points out that price has formed a continuation pattern known as a bull flag. Keep in mind this ETF saw a triple-digit rally in just nine weeks off of the March low. A consolidation or brief pause following that massive rally is healthy in order for price to continue higher. $33 remains a critical support level. If price holds above that level and breaks out of this bull flag, we could see another leg higher for $SIL.
Quote of the Day
– Bill Gates
Top Links
3 Charts That Have Our Attention – LPL Financial Research
The team at LPL Financial Research offers some food for thought in three charts.
Jerry Parker Talks Latest in Currency Market – TD Ameritrade Network
In this clip, legendary trend follower, Jerry Parker offers his thoughts on currency and commodity markets.
Gold Bulls Eyeing Potential Cup & Handle Pattern – See it Market
Chris Kimble explains why he thinks Gold could be headed to $3,000 per ounce.
Own Growth Stocks if You are Going to Own Small Caps – Chaikin Analytics
In this quick video, Dan Russo of Chaikin Analytics discusses why he continues to favor growth over value.
Election Year July Performance Tepid – Almanac Trader
Seasonality expert, Jeff Hirsch takes a look a how the major indices have historically performed throughout July in election years.
Top 10 Tweets
You’re all caught up now. Thanks for reading!