Friday, November 1st, 2019
Indices: US stocks ended the week on a positive note with the Dow Jones Industrial Average advancing 301 points or 1.11%. The S&P 500 and Nasdaq closed higher by 0.97% and 1.13%, respectively. The Russell 2000 was the strongest of the major averages, gaining 1.72%.
Sectors: Energy led, gaining 2.28%. Real Estate lagged, slipping 0.25%.
Commodities: Crude Oil futures jumped 3.75% to $56.21 per barrel. Gold futures moved slightly lower by 0.20% to $1,512 per ounce.
Currencies: The US Dollar Index fell by 0.24%.
Interest Rates: The US 10-year Treasury yield moved higher to 1.714%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
— David Cox, CMT, CFA (@DavidCoxWG) November 1, 2019
Today’s Chart of the Day was shared on Twitter by David Cox (@DavidCoxWG). It’s a daily candlestick chart of the Small-cap Russell 2000. Small-caps have spent the majority of the year underperforming Large-caps. However, David points out that they’re beginning to “perk up.” The Russell 2000 gained 2% this week and outperformed the rest of the major indices. Last week, we pointed out that Small-caps tend to pick up relative to Large-caps around this time of year. As David notes, Small-cap outperformance would certainly not be bearish for the broader market. It’ll be interesting to keep an eye on how Small-caps perform relative to their Large-cap peers going into the end of the year.
Quote of The Day
“Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only failing to correct our mistakes.”
– George Soros (Hedge Fund Manager)
The Big Banks are Back – The Chart Report
In this week’s Chart of the Week column, we take a look at the big banks using a custom index that tracks $JPM, $BAC, $C, $WFC, $GS, and $MS.
Podcast with Robert Sluymer, Managing Director at Fundstrat Global Advisors – Technical Analysis Radio
JC Parets interviews Robert Sluymer of Fundstrat Global Advisors. They discuss Bitcoin, Sector Rotation, Bonds and more.
US vs. Emerging Markets – The Final Bar
David Keller and Tom McClellan examine the Emerging Markets ETF, $EEM. Tom explains that Emerging Markets tend to lead US Stocks.
It’s Time to Take Profits in Kraft Heinz, Two Experts Say as Stock Rallies 13% – CNBC
Kraft Heinz ($KHC) has soared in recent days, however, Craig Johnson of Piper Jaffray tells views that the chart is signaling that the risk is to the downside.
Stock Market Video Analysis for Week Ending 11/1/19 – AlphaTrends.net
Here’s Brian Shannon’s weekly video where he recaps the past week and shares some things to watch for next week.
Top 10 Tweets
Wednesday, November, 20th – New York Chapter Meeting featuring Gina Martin Adams, CMT, CFA
Thursday, November, 21st – Washington DC/Baltimore Chapter Meeting featuring Katie Stockton, CMT
You’re all caught up now. Thanks for reading!