Daily Chart Report ? Friday, July 17th, 2020
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Today’s Summary
Friday, July 17th, 2020
Indices: US stocks were mixed in today's quiet session. The Dow Jones Industrial Average slipped 63 points or 0.23%. The S&P 500 and Nasdaq both moved higher by 0.28%. Small-Caps outperformed, with the Russell 2000 rising 0.39%.
Sectors: Utilities led for the second day in a row, gaining 2.26%. Energy lagged, falling 1.40%.
Commodities: Crude Oil futures were unchanged and continue to trade at $40.75 per barrel. Gold futures gained 0.54% to $1,810 per ounce.
Currencies: The US Dollar Index fell 0.30%.
Interest Rates: The US 10-year Treasury yield moved higher to 0.637%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Larry Tentarelli (@LMT978). It's a daily bar chart of the Dow Jones US Trucking Index over the past 14 months. The top five components in this index include Old Dominion Freight ($ODFL), J.B. Hunt ($JBHT), C.H. Robinson ($CHRW), Knight-Swift Transportation ($KNX), and Landstar Systems ($LSTR). The Trucking Index closed at an all-time high for the fourth consecutive day today. As Larry points out, all-time highs for the Trucking Index are a positive sign for economic expectations. To be fair, Transportation stocks more broadly still have some work to do, as the Dow Jones Transportation Average ($DJT) is about 14% below it's September 2018 high and lagging the other major indices. But overall, it's hard to be aggressively bearish when you have cyclical areas of the market like Trucking printing new highs day-after-day like this.
Quote of the Day
“Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.”
– Unclear
Top Links
What Happened in the Markets This Week? - NYSE
In this video, Market Maker, Jay Woods gives a quick recap of this week's price action in stocks.
Options Traders Have Never Been So Complacent - Dana Lyons
Dana Lyons points out that the 10-day Put/Call Ratio just printed its lowest reading on record.
Stock Market Video Analysis For Week Ending 07/17/20 - AlphaTrends.net
Here's Brian Shannon's weekly video, in which he lays out some levels of interest to keep an eye on next week.
Under The Hood - All Star Charts
Steve Strazza breaks down the charts of some of the most popular stocks among Robinhood traders.
Where Do We Investors Stand? - David Cox
Portfolio Manager, David Cox highlights some noteworthy technical developments going on across the markets.
Top Tweets
By the way, in the S&P 500's average year (since 1950), we're here: pic.twitter.com/vCgIYQ3s4E
— Callie Cox (@callieabost) July 17, 2020