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Today’s Summary
Thursday, September 26th, 2019
Indices: US stocks closed lower in today’s session with the Dow Jones Industrial Average falling 80 points or 0.30%. The S&P 500 and Nasdaq were lower by 0.24% and 0.58%, respectively. The Russell 2000 underperformed the rest of the major indices, sinking 1.12%.
Sectors: Real Estate led, gaining 0.94%. Energy lagged, falling 1.31%.
Commodities: Crude Oil futures slipped 0.27% to $56.41 per barrel. Gold futures rose 0.17% to $1,515 per ounce.
Currencies: The US Dollar Index gained 0.17% to close at its highest level in over two years.
Interest Rates: The US 10-year Treasury yield moved higher to 1.697%.
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 YCharts (@ycharts). We like the chart because it tells a totally different story than the cord-cutting narrative that we’re all used to hearing about. YCharts points out that traditional dish and cable companies are outperforming the companies that offer popular streaming services. The orange line is the year-to-date performance of Comcast, AT&T, Dish, and Charter. The purple line is the year-to-date performance of Disney, Netflix, Apple, and Amazon. It’s surprising to see that “the old way to watch TV” is up 40.69% while “the new way to watch TV” is up 21.62%.
Quote of The Day
Top Links
Podcast with Willie Delwiche. Investment Strategist at RW Baird – Technical Analysis Radio
JC Parets interviews Willie Delwiche of RW Baird in this podcast. They discuss how he incorporates things like breadth and sentiment into his process.
Trendline Wednesday 9/25/2019 – Dana Lyons
Dana Lyons shares some important stocks and indices that are currently testing long-term trendlines.
Commodity Deflation About to Pick Up Steam? – Kimble Charting Solution
Chris Kimble examines the chart of the TR Equal Weight Commodity Index.
Sentiment Stagnant While Stocks Have Surged – Bespoke
In this note, Bespoke takes a look at a chart of the 52-week average of the weekly AAII Sentiment Survey readings.
Major Reversal in Software Offers Encouraging Sign – StockCharts.com
Tom Bowley of StockCharts.com explains that the recent pullback in Software stocks is related to the rotation from Growth to Value.
Top 10 Tweets
Walt Disney (DIS-129.47) just broke below critical support at 129.79. This completes a head & shoulder top formation. It is now in a huge gap area between 116 and 126…..watch-out below!
— Ralph Acampora CMT (@Ralph_Acampora) September 26, 2019
Nasdaq 100 Index $NDX Testing Post-December Up Trendline $QQQ #TrendlineWednesday pic.twitter.com/8QuuzDx3xT
— Dana Lyons (@JLyonsFundMgmt) September 26, 2019
$IWC micro caps desperately need to stage a rally… $IWM $IWO pic.twitter.com/CKRtBnZaMF
— FlynancialAnalyst (@FlynancialA) September 26, 2019
#gold futures #seasonality pic.twitter.com/qSnlH3ZBGx
— Crottaz Finance (@crofin67) September 26, 2019
Copper.
Nearing completion of well-developed potential Base at rising 200wma.
Weekly MACD crossing up, could mark the end of the decline.
Not shown, Spec positioning remains near record Short for the entire history back to 1993 (contrarian Bullish).$HG_F #Copper pic.twitter.com/G96GkZDvUu
— Macro Charts (@MacroCharts) September 26, 2019
Interesting natural gas chart with price testing $2.47 after being an important level earlier this year as support and then resistance. $NG $UNG pic.twitter.com/jvweKgePmv
— Andrew Thrasher, CMT (@AndrewThrasher) September 26, 2019
#Bitcoin tangling with its 200 day:
RSI dipping OS. pic.twitter.com/I6mQPDKDiy
— OmahaCharts, CMT (@omahacharts) September 26, 2019
$LYFT is down > 50% from its highs, well below its #IPO price…$WORK is down 45% from its highs. pic.twitter.com/2JrSle0sXU
— Bertha Coombs (@berthacoombs) September 26, 2019
I hope everyone who bought $PTON IPO today was wearing a helmet ?, 11.17% down in one day, same as my ftp. We have new Lanterne Rouge of #StockMarket pic.twitter.com/l93SAAe40f
— Sebastian Zdyb (@sebo_z) September 26, 2019
According to Bloomie, all y'all were negative on the stationary bike even before it started to drop.$pton pic.twitter.com/kj9rsDytab
— SentimenTrader (@sentimentrader) September 26, 2019
You’re all caught up now. Thanks for reading!