Daily Chart Report ? Friday, October 2nd, 2020

Today’s Summary
Friday, October 2nd, 2020

Indices: US Stocks were mostly lower in today's session. The Dow Jones Industrial Average fell 134 points or 0.48%. The S&P 500 and Nasdaq dropped 0.96% and 2.22%, respectively. Small-Caps outperformed and managed to close higher with the Russell 2000 gaining 0.53%.

Sectors: Real Estate led for the second day in a row, gaining 1.59%. Tech lagged falling 2.54%.

Commodities: Crude Oil futures continued lower by 4.42% to $37.01 per barrel. Gold futures slipped 0.21% to $1,908 per ounce.

Currencies: The US Dollar Index inched higher by 0.09%.

Interest Rates: The US 10-year Treasury yield rose to 0.692%.

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 two years. The Dow, S&P, and Nasdaq all closed lower today. Despite the weakness in the major indices, Michael points out that there were some bullish aspects of today’s price action. The Russell 2000 and equal-weight S&P 500 both closed higher on the day. In fact, both outperformed the major indices throughout the week. This is evidence of healthy risk appetite and broadening participation, both of which support the bull case. There is a lot of noise out there right now, and it’s likely to get louder as we approach the election. Rather than trying to interpret how headlines will impact price, just listen to what the market is telling you through price action. Price is the only truth in the markets. The rest is just opinions, stories, or noise. If the information is material enough, price will discount it, and it will show up on the chart. So please, put down your TV remote and pull up a chart.

Quote of the Day