The Chart Report

The best technical analysis being done by the best technicians in the world every day.

  • Daily Chart Report
  • Archives
  • About Us

Daily Chart Report 📈 Tuesday, September 3rd, 2019

September 3, 2019 Patrick Dunuwila

Sponsored By:

Today’s Summary
Tuesday, September 3rd, 2019

Indices: US stocks closed lower in today’s session with the Dow Jones Industrial Average falling 285 points or 1.08%. The Russell 2000 was the weakest of the major indices, falling 1.51%.

Sectors: Defensive sectors like Utilities, Real Estate, and Consumer Staples were the only sectors to close positive. Utilities led, gaining 1.77%. Industrials lagged, falling 1.36%.

Commodities: Crude Oil futures dropped 1.57% to $53.91 per barrel. Gold futures rose 1.15% to a new multi-year high of $1,556 per ounce.

Currencies: The US Dollar Index inched higher by 0.08%, to its highest level since 2017.

Interest Rates: The US 10-year Treasury yield fell to 1.464%.

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 in a blog post by Chris Kimble (@KimbleCharting). It’s a monthly candlestick chart of the Silver/Gold ratio going back to the early ’80s. When the ratio is rising, it means Silver is outperforming Gold and vice versa. Technicians use this ratio to gauge the level of risk appetite in the Precious Metals market. Silver is the more aggressive and volatile of the two metals. Therefore, when Silver is outperforming Gold, it demonstrates risk appetitie and is a bullish signal for the broader Precious Metals market. Chris points out that this ratio has been in decline since 2011. However, it seems to be bouncing off support from the 1992 lows and is now breaking above multi-year resistance. Chris adds that if this ratio continues higher, it will send a bullish message to both Silver and Gold.


Quote of The Day

“I began to realize how important it was to be an enthusiast in life. White hot and passionate is the only thing to be.” 
– Roald Dahl (Author ) 

Top Links

Louise Yamada: Massive Six Year Base Will Lead to Higher Move in Gold – WallStreetWindow.com
Here’s an interesting podcast with legendary Technician, Louise Yamada. In addition to sharing her thoughts on Gold, she discusses how she went from being a single mother teaching nursery school to one of the most respected Technicians on Wall Street.

Should Market Breadth Be Cap-Weighted or Equal Weighted? – StockCharts.com
David Keller of StockCharts.com explains why it still makes sense to use equal-weighted indicators to measure the breadth of cap-weighted indices like the S&P 500.

Labor Day Seasonality – Bespoke
Bespoke takes a look at September seasonality and how Stocks have historically performed immediately after Labor Day weekend.

Do Major Hurricanes Impact Stocks? – LPL Financial Research
Here’s an interesting note from the team at LPL Financial Research. They examine how the S&P 500 has performed after some of the most devastating hurricanes.

Chart o’ the Day: Where the Bears are in Trouble – The Reformed Broker
Josh Brown of Ritholtz Wealth Management wrote this brief post highlighting an interesting chart from JC Parets. The chart is a long-term chart of the Dow Jones Industrial Average that outlines some important levels to watch.


Top 10 Tweets

Here's a look at seasonality for the Russell 2000, S&P 500, Nasdaq 100, and Dow. Historically September has been a tough month for equity markets. pic.twitter.com/JEDwDpP2q5

— Andrew Thrasher, CMT (@AndrewThrasher) September 3, 2019

Yes, September can be a rough month, but how stocks are doing headed into it could be quite significant.

Past 10 times started Sept above the 200-day MA (like 2019)? Higher 8 times in Sept.

Past 10 times started Sept beneath the 200-day MA? Higher only 3 times in Sept. pic.twitter.com/wJbqFSkRlZ

— Ryan Detrick, CMT (@RyanDetrick) September 3, 2019

Best performer by sector during today’s market sell-off: $XLRE, $XLU, $XLP. The market continues to play defense. $SPX $SPY pic.twitter.com/dAumbcSacx

— Maria Rinehart (@RinehartMaria) September 3, 2019

$RCD EW Consumer Discretionary vs. $RHS EW Consumer Staples 1d Ratio: established a new low today pic.twitter.com/eOdnUPRCQe

— Shane C. Murphy (@murphycharts) September 3, 2019

If you are into scanning many different markets to find interesting charts, may I call you attention to $EEM. A month-long range after epic collapse and two 'hanging man' candles at resistance pic.twitter.com/b0XAA7VDBE

— John Kicklighter (@JohnKicklighter) September 3, 2019

One for the bond bears. $TLT 5 year seasonal. pic.twitter.com/5Fex00yXjN

— Teddy Vallee (@TeddyVallee) September 3, 2019

$TLT — Resistance ??? pic.twitter.com/rYKP5wRpwq

— Nautilus Research (@NautilusCap) August 29, 2019

$SILVER D1 breaking above key resistance around 18.60 with a vengeance today. #bullish if holds above #silver $slv $xagusd pic.twitter.com/TxS9yhaWLk

— Matt (@commander10) September 3, 2019

Copper Breakdown is a technical & potential economic concern on violation of 1 year Head and Shoulders pattern & brings down to lowest since '16 pic.twitter.com/1No6HqXQMQ

— Mark Newton (@MarkNewtonCMT) September 3, 2019

Man, I've got to admit, gold has been on an incredible rally lately.

It's now…

*checks notes*

… down 17.5% in the last 8 years. pic.twitter.com/bjan2Fn06w

— Joe Weisenthal (@TheStalwart) September 3, 2019



You’re all caught up now. Thanks for reading!

Daily Chart Report

Sign Up For The Daily Chart Report

Testimonials

If you're not subscribing to the @TheChartReport and getting their nightly recap of some of the great charts shared on social media and blogs, then you're really missing out.

— Andrew Thrasher, CMT (@AndrewThrasher) July 17, 2019

That last tweet was directly from one of my favorite emails each day @TheChartReport Daily Chart Report 📈 Wednesday, August 14th, 2019: https://t.co/5NZjhmgnxR

— Brian Shannon, CMT (@alphatrends) August 15, 2019

Nice work on @TheChartReport guys. Definitely recommend checking it out and signing up for the daily report. Great work as always @Pdunuwila @the_chart_life @AlphaEyeCharts @sstrazza

— Gregory Krupinski (@G_krupins) April 28, 2019

#FF @TheChartReport the best free email I get every day

— J.C. Parets (@allstarcharts) September 6, 2019

Follow @TheChartReport and subscribe to their fail email for great technical analysis. Nice job on the $TSLA piece @Pdunuwila https://t.co/SdNTYsCHNN

— Brian Shannon, CMT (@alphatrends) April 26, 2019

if you’re not signed up for @TheChartReport get your life together bro

— Shane C. Murphy (@murphycharts) August 7, 2019

Love getting my daily market news from @TheChartReport

— Andrew Fieschko (@AFieschko) August 7, 2019

Recent Posts

  • Daily Chart Report 📈 Wednesday, June 29th, 2022
  • Chart of the Day – Wednesday, June 29th, 2022
  • Daily Chart Report 📈 Tuesday, June 28th, 2022
  • Chart of the Day – Tuesday, June 28th, 2022
  • Daily Chart Report 📈 Monday, June 27th, 2022

Follow @thechartreport

  • Instagram
  • Twitter

© 2022 The Chart Report. All Rights Reserved.

Terms and Conditions - Privacy Policy