Daily Chart Report ? Friday, September 18h, 2020
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Today’s Summary
Friday, September 18th, 2020
Indices: US Stocks ended the week on a sour note with the Dow Jones Industrial Average dropping 245 points or 0.88%. The S&P 500 and Nasdaq fell 1.12% and 1.07%, respectively. The Russell 2000 outperformed but still slipped 0.38%.
Sectors: All 11 sectors closed lower. Health Care led, inching lower by just 0.15%. Real Estate lagged, falling 1.98%.
Commodities: Crude Oil futures continued higher by 0.85% to $41.32 per barrel. Gold futures gained 0.63% to $1,962 per ounce.
Currencies: The US Dollar Index rose 0.10%.
Interest Rates: The US 10-year Treasury yield inched higher to 0.697%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day comes from Bespoke's morning note. The chart shows the monthly % change in the spread between large-cap Growth and Value. Bespoke points out that Value is having its best month relative to Growth in nearly two decades. This comes after 11 consecutive months of Growth outperforming Value. This is clear evidence of rotation, which is constructive for the broader market in the long-run. Although this rotation probably feels anything but constructive if you've been overweight Growth like a lot of folks out there. For more evidence of this, take a look at the S&P 500's new 52-week high list. A few weeks ago, that list was dominated by the sexy mega-cap Growth/Tech names. Today, we're seeing boring old Value/Industrial names like John Deere and Dollar General hitting new 52-week highs. The question that remains - is this a sustainable change in leadership? Or, simply Value's 15-minutes of fame?
Quote of the Day
“The greatest discovery of all time is that a person can change his future by merely changing his attitude.”
– Oprah Winfrey
Top Links
S&P 500 Down 24 of 30 During Week After September Options Expiration, Average Loss 0.95% - Almanac Traders
Seasonality expert, Jeff Hirsch points out that the next week has a bearish track record.
IPOs: Boom or Bust - Ally Invest
2020 is on track to be the biggest year for IPOs in decades. In this note, Lindsey Bell breaks down everything you need to know about this surge in IPO activity.
Friday Market Update | September 18, 2020 - Chaikin Analytics
In this video, Dan Russo shares his thoughts on the Agricultural Commodities space.
Rocks Over Stocks - All Star Charts
Steve Strazza takes a look at Commodities and the Materials sector.
Petition to Release Real-Time Short Interest Data to the Market - Change.org
Short interest data is a great tool used to identify potential short squeeze opportunities. The problem is, FINRA only releases this data twice per month! Our partners at TrendSpider are petitioning FINRA to release this data in real-time. Please consider signing this petition, thanks!