Daily Chart Report ? Thursday, November 19th, 2020
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Today’s Summary
Thursday, November 19th, 2020
Indices: US Stocks settled higher in today's session, with the Dow Jones Industrial Average inching up just 45 points or 0.15%. The S&P 500 and Nasdaq rose by 0.39% and 0.87%, respectively. The Russell 2000 moved higher by 0.84%.
Sectors: 9 of the 11 sectors closed higher. Energy led, gaining 1.64%. Utilities lagged, falling 1.00%.
Commodities: Crude Oil futures slipped 0.26% to $41.90 per barrel. Gold futures fell 0.66% to $1,862 per ounce.
Currencies: The US Dollar Index was more or less flat (0.03%).
Interest Rates: The 10-year US Treasury yield dropped to 0.828%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today's Chart of the Day was shared on Twitter by David Zarling (@AdaptivCharts). It's a ratio chart of Emerging Markets vs. the S&P 500 over the past four years ($EEM/$SPX). David points out that Emerging Markets could be poised to outperform US stocks over the next few months. $EEM has already broken out to multi-year highs on an absolute basis. On a relative basis, It's breaking out from a multi-year downtrend with a bullish RSI divergence. In a comment to The Chart Report, David explained "A large portion of $EEM is Asian Tech Stocks" The top four stocks in $EEM include Alibaba, Tencent, Taiwan Semiconductor, and Samsung. These four stocks represent over 20% of the ETF. David added, "If the US Dollar continues to break down here, it would only strengthen the bull case for Emerging Markets."
Quote of the Day
"No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.”
– Robert Rhea
Top Links
Are Small and Mid Cap Stocks Ready to Lead Stock Market? - See it Market
Willie Delwiche points out that Small and Mid-Cap stocks are starting to look attractive relative to Large-Cap.
Everybody's in the Boat? - Marea Market Musings
Dan Russo offers his thoughts on the current market environment.
Is it Time for the Oil & Gas Exploration Sector to Wake Up? - StockCharts.com
Mish Schneider breaks down a chart of the Oil & Gas Exploration ETF, $XOP.
The Most Important Index in the World Has Never Done This Before - SentimenTrader
Jason Goepfert weighs-in on Tesla's inclusion into the S&P 500.
The Thanksgiving Trade - Almanac Trader
Seasonality expert Jeff Hirsch examines how stocks have historically performed around Thanksgiving.