Daily Chart Report ? Friday, June 19th, 2020
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Today’s Summar
Friday, June 19th, 2020
Indices: US Stocks closed lower in today’s session with the Dow Jones Industrial Average falling 209 points or 0.80%. The S&P 500 closed down 0.56%. The Nasdaq managed to extend its recent winning streak to six consecutive days, eking out tiny gain of 0.03%. The Russell 2000 fell 0.59%.
Sectors: Health Care was the only sector to close higher, rising 0.96%. Utilities lagged, falling 2.81%.
Commodities: Crude Oil futures moved higher by 2.00% to $39.83 per barrel. Gold futures gained 1.27% to $1,753 per ounce.
Currencies: The US Dollar Index rose 0.22%.
Interest Rates: The US 10-year Treasury yield moved lower to 0.702%.
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 Michael Turvey of TD Ameritrade (@MikeTurvey_TDA). It’s a weekly candlestick chart of the S&P 500 over the past 16-months. Michael points out that this week’s price action was constructive to the long-term bullish case for stocks. For starters, we have the 10-week exponential moving average crossing above the 40-week. It’s bullish to see a shorter-term moving average cross above a longer-term moving average like this. Michael also points out that the S&P 500 clawed back the week’s earlier losses to close positive on the week. The index gapped down over 1.5% at the open on Monday but was able to reverse and close higher on the week by nearly 2%.
Quote of the Day
“Stay hungry. Stay foolish.”
– Steve Jobs
Top Links
The Importance of Industrials – All Star Charts
Steve Strazza of All Star Charts takes a look at a sector that doesn’t get much attention these days, Industrials.
Podcast with Katie Stockton, Founder & Managing Partner, Fairlead Strategies – Technical Analysis Radio
In this podcast, JC Parets sits down with respected technician, Katie Stockton. They chat about her career on Wall Street and her research process.
Key Stock Market Breadth Measure Is Not Bullish Yet – See it Market
David Keller explains that the percentage of S&P 500 stocks above their 200-day moving average needs to improve in order to confirm that we’re in a bullish market environment.
Thematic ETFs With The Strongest Trends (Ian McMillan from Adaptiv) – Koyfin
Ian McMillan and Rob Koyfman discuss the current themes in the market and how to spot relative strength.
Where Do We (Investors) Stand – David Cox
In this quick video, portfolio manager, David Cox highlights some of the most noteworthy technical developments from this week.