Friday, September 20th, 2019
Indices: US stocks were lower in today’s session with the Dow Jones Industrial Average falling 160 points or 0.59%. The S&P 500 and Nasdaq were lower by 0.49% and 0.80%, respectively. The Russell 2000 was the strongest of the major indices but still slipped 0.11%.
Sectors: Health Care was the only positive sector gaining 0.14%. Consumer Discretionary lagged, falling 1.47%.
Commodities: Crude Oil futures were unchanged and continue to trade at $58.19 per barrel. Gold futures gained 0.58% to $1,515 per ounce.
Currencies: The US Dollar Index rose 0.43%.
Interest Rates: The US 10-year Treasury yield moved lower to 1.72%.
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 Mark Ungewitter (@mark_ungewitter). It’s a chart of the S&P 500 going back to 2010. On the bottom pane of the chart is a 20-day rate of change indicator for $SPY/$TLT. The vertical red lines on the chart mark all the instances where the S&P 500 rallied 10% or more, relative to Treasury Bonds. Mark notes that sharp rotations out of Bonds and into Stocks, like the one we’ve seen in the past couple of weeks, have typically been bullish for the S&P 500. Mark poses the question will it be different this time? As Sir John Templeton once said; “The four most dangerous words in investing are, it’s different this time.”
Quote of The Day
Rotation Into Small-Cap Tech – The Chart Report
In this report, we take a look at the Technology sector. Specifically, we focus on the performance of Small-Cap Technology Stocks.
Digging Into the Divergence of Gold and Silver Prices – Bloomberg
Joe Perry of ForexAnalytix and Abigail Doolittle discuss the technical outlook for Precious Metals on Bloomberg’s Charting Futures segment.
Why This Investing Pro Says to Sell Into Roku’s Move – CNBC
Craig Johnson of Piper Jaffray breaks down the chart of Roku ($ROKU). He cautions viewers that the risk is to the downside on this stock.
High Low Friday – 9/20/2019 – Dana Lyons
Heres a simple but awesome piece from Dana Lyons that takes a look at some important stocks and indices that are at new highs/lows.
Nvidia Breaking Out – Here are the Levels to Trade – Yahoo Finance
Brian Shannon of AlphaTrends.net made an appearance on Yahoo Finance today to lay out some levels of interest on Nvidia ($NVDA).
Top 10 Tweets
S&P was down 0.51% this week. #Perspective
— Chris Ciovacco (@CiovaccoCapital) September 20, 2019
If you had the S&P 500 this week would see daily changes of 31, 26, 3, and 0 basis points after the attacks on the Saudi oil fields I don't think anyone would have believed you back on Sunday night.
But that's exactly what has happened so far. pic.twitter.com/nZUEoYRqqI
— Ryan Detrick, CMT (@RyanDetrick) September 20, 2019
The major indexes look like they want to go higher. Short term, we could see some weakness as the end of the quarter tends to see profit taking, but longer-term they look strong. As always, it's important to know your time frame. pic.twitter.com/xzTdyiW7IH
— Joseph Fahmy (@jfahmy) September 20, 2019
— Tony Welch, CFA, CFP®, CMT (@tonywelch17) September 20, 2019
— J.C. Parets (@allstarcharts) September 20, 2019
— Dana Lyons (@JLyonsFundMgmt) September 20, 2019
— Shane C. Murphy (@murphycharts) September 20, 2019
— Carolyn Boroden (@Fibonacciqueen) September 20, 2019
— Charlie Bilello (@charliebilello) September 20, 2019
It's national Pepperoni Pizza Day today. This raises the obvious question "If I had put $10K into pizza stocks 5 years ago, would I now be able to buy a @Tesla now?" Not quite. @ycharts @yumbrands @dominos @PapaJohns pic.twitter.com/pqVh5BoHQ5
— Sean Brown (@Sean_YCharts) September 20, 2019
You’re all caught up now. Thanks for reading!