Daily Chart Report ? Monday, October 26th, 2020
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Today’s Summary
Monday, October 26th, 2020
Indices: US Stocks closed lower to start the week with the Dow Jones Industrial Average dropping 650 points or 2.29%. The S&P 500 and Nasdaq fell 1.86% and 1.64%, respectively. The Russell 2000 moved lower by 2.15%.
Sectors: All 11 sectors closed lower. Utilities led, closing more or less flat - 0.03%. Energy lagged, dropping 3.59%.
Commodities: Crude Oil futures moved lower by 3.24% to $38.56 per barrel. Gold futures were unchanged and continue to trade around $1,906 per ounce.
Currencies: The US Dollar Index rose 0.35%.
Interest Rates: The 10-year US Treasury yield fell to 0.801%.
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 Steve Deppe (@SJD10304). The S&P 500 kicked off the week on a sour note today, dropping 1.86%, marking the worst day in just over a month. Despite the bearish start, Steve points out that it wouldn’t be surprising to see bulls regain some control in the remainder of the week. The table shows all the prior instances over the past decade, where the S&P 500 dropped between 1.5% and 3% to start the week. On average, the next few days have been positive more often than not. Four days later, the index was higher 73% of the time for an average gain of 1.62%. As a reminder, this is not intended to be a prediction but rather an illustration of what is possible and probable based on historical data.
Quote of the Day
“Once the game is over, the king and the pawn go back in the same box.”
– Italian Proverb
Top Links
Nasdaq vs. Dow Outperformance - Bespoke
Bespoke examines the wide disparity between the Nasdaq and the Dow so far in 2020.
The Best Day of the Year is This Week - LPL Financial Research
The team at LPL Financial Research points out that, on average, October 28th has been the best day for the S&P 500 over the past 70 years.
No One Knows, Not Even You - The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss some of the most significant technical developments to keep an eye on, including the strength in Small-Caps, Copper, and Chinese Stocks.
Big Tech Reports Earnings - Momentum Monday
In their weekly video, Howard Lindzon and Ivanhoff highlight some of the strongest stocks, trends, and themes across the markets.
7 Ways to Deal with Stock Market Noise - Rieban Financial
As we approach the election, Greg Rieben offers seven helpful ways to tune out the noise.