Daily Chart Report ? Monday, October 5th, 2020
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Today’s Summary
Monday, October 5th, 2020
Indices: US Stocks kicked off the week on a positive note with the Dow Jones Industrial Average advancing 466 points or 1.68%. The S&P 500 and Nasdaq rose 1.80% and 2.32%, respectively. Small-Caps outperformed for the third straight day, with the Russell 2000 gaining 2.77%.
Sectors: All 11 sectors closed higher. Energy led, gaining 3.00%. Real Estate lagged but still rose 0.55%.
Commodities: Crude Oil futures moved higher by 5.86% to $39.22 per barrel. Gold futures gained 0.58% to $1,919 per ounce.
Currencies: The US Dollar Index fell 0.38%.
Interest Rates: The US 10-year Treasury yield jumped to a three-month high of 0.785%
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 Andrew Thrasher (@AndrewThrasher). The chart shows the US 30-year Treasury Yield (top), and the US 10-year Treasury yield (below) over the past two years. Treasury Yields moved meaningfully higher today after barely moving the past couple of months. The 30-year Yield crossed above its 200-day moving average for the first time in over a year, and the 10-year is approaching resistance around 0.8%. After a boring few months of refusing to break down, could Yields finally be ready to move materially higher? Or is this just a dead cat bounce within a longer-term downtrend?… Stay tuned!
Quote of the Day
“I want to put a ding in the universe.”
– Steve Jobs
Top Links
Interest Rates Bottoming Similar to the Late 1960s? – Kimble Charting Solutions
Chris Kimble breaks down a long-term chart of the US 10-year Treasury Yield.
Market of Stocks – Momentum Monday
In this video, Howard Lindzon and Ivanhoff run through dozens of charts to highlight the strongest stocks, trends, and themes across the markets.
Weekly S&P 500 #ChartStorm – Topdown Charts
The team at Topdown Charts shares ten charts that help to make sense of the current market environment
The Gold Bull Market is Likely to Extend Once The Correct Runs its Course – StockCharts.com
Respected analyst, Martin Pring offers his technical perspective on Gold.
It Is What It Is Until It Isn’t – The Weekly Trend
In this podcast, David Zarling and Ian McMillan weigh-in on some of the major technical developments to be aware of right now.
Top Tweets
You’re all caught up now. Thanks for reading!