Thursday, February 13th, 2020
Indices: US stocks closed lower in today’s session with the Dow Jones Industrial Average falling 128 points or 0.43%. The S&P 500 and Nasdaq slipped 0.16% and 0.14%, respectively. The Russell 2000 was the strongest of the major indices gaining 0.26%.
Sectors: Utilities led, gaining 1.11%. Industrials lagged, falling 0.56%.
Commodities: Crude Oil futures slipped 0.33% $51.52 per barrel. Gold futures rose 0.63% to $1,579 per ounce.
Currencies: The US Dollar Index inched up just 0.05%.
Interest Rates: The US 10-year Treasury yield moved lower to 1.609%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
— Jason (@JasonPerz138) February 13, 2020
Today’s Chart of the Day was shared on Twitter by Jason Perz (@JasonPerz). It’s a ratio chart of the Junior Gold Mining ETF, $GDXJ versus the “senior” Gold Mining ETF, $GDX, over the past year. The Junior Miners ($GDXJ) are the smaller, more risky companies involved in precious metals mining while $GDX represents the larger, more established mining companies. When the line is rising, it means the junior miners are outperforming the senior miners. This ratio helps us gauge the risk-appetite for precious metals. As Jason points out, the fact that $GDXJ continues to outperform $GDX is evidence of a risk-on behavior and is bullish for the precious metals space as a whole.
Quote of the Day
“I don’t call it technical analysis anymore, I call it data visualization”
– Ralph Acampora (Technical Analyst)
Is Market Rally From Renewed Momentum Or Excessive Optimism? – TD Ameritrade Network
In this clip, Willie Delwiche of Baird discusses the difference between market sentiment and economic optimism and shares his thoughts on the market.
$GC Mid-Month Gold Update – Fibonacci.com
Tarek Saab of Fibonacci.com provides a brief technical update on Gold.
Getting Technical: Bullish signals in Crowdstrike (CRWD) – Yahoo Finance
Brian Shannon of AlphaTrends.net breaks down recent price action and levels of interest in the Nasdaq and Crowdstrike ($CRWD).
Oil Will Be in Bear Market a Lot Longer, Macro Risk Advisors’ Kolovos Says – Bloomberg
John Kolovos of Macro Risk Advisors takes a look at the US dollar and Crude Oil futures.
Closer Look at February – LPL Financial Research
In this note, the team at LPL Financial Research examines how stocks tend to perform in February.
Top 10 Tweets
— Charlie Bilello (@charliebilello) February 13, 2020
— Arthur Hill, CMT (@ArthurHill) February 13, 2020
— Seth Golden (@SethCL) February 13, 2020
— Drew Wells, CIMA® (@DrewTheCharts) February 13, 2020
The Pairs Grid allows you to create any comparative measures, such as the relative performance of each SPDR sector against each other over the last month: $XLK has outperformed $XLE by 17%, whereas $XLV vs $XLF has been flat (0.03%). pic.twitter.com/qCrzrcMbhj
— Optuma (@Optuma) February 13, 2020
Brobdingnagian BASE & Breakout – STOXX Europe 600 Index pic.twitter.com/fkmKrHIo4F
— Wolfe Daily Howl (@WolfeDailyHowl) February 13, 2020
— CEO Technician (@CEOTechnician) February 13, 2020
— John Kicklighter (@JohnKicklighter) February 13, 2020
*serious question alert*
This chart shows 700 years of interest rates. It’s an incredible visualization, bookmark it.
BUT, why do you think the trend continues to go lower? 🤔 pic.twitter.com/rjWns3FspP
— Scheplick (@scheplick) February 13, 2020
There is a common belief that charting and technical analysis is for short-term trading. After studying chart and trading/investing for different companies, I can say this with confidence, the longer the time frame the more reliable the charts… pic.twitter.com/7oAebii02F
— Aksel Kibar, CMT (@TechCharts) February 13, 2020