Thursday, November 14th, 2019
Indices: US stocks were flat in another quiet session with the Dow Jones Industrial Average changing just 2 points or 0.01%. The S&P 500 and Nasdaq moved 0.08% and 0.04%, respectively, while the Russell 2000 moved only 0.02%.
Sectors: Real Estate led, gaining 1.00%. Energy lagged, falling 0.27%.
Commodities: Crude Oil futures moved lower by 0.56% to $56.76 per barrel. Gold rose 0.68% to $1,473 per ounce.
Currencies: The US Dollar Index fell by 0.24%.
Interest Rates: The US 10-year Treasury yield moved lower to 1.822%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
The Dow's past 9-day trading range is the smallest on a historical basis since Jan 2, 2018. Holiday-level conditions. Perfect time for a catalyst… pic.twitter.com/m3TLnI7X3P
— John Kicklighter (@JohnKicklighter) November 14, 2019
Today’s Chart of the Day was shared on Twitter by John Kicklighter (@JohnKicklighter). It’s a daily candlestick chart of the Dow Jones Industrial Average with a nine-day trading range indicator. The market has felt pretty quiet recently with the Dow moving less than five basis points on three separate days this week. John points out that this has been the narrowest nine-day trading range for the Dow in nearly two years. He suggests that this lack of volatility is typical around this time of year and adds that this sort of market environment is ripe for a catalyst.
Quote of the Day
“Probability theory is nothing but common sense reduced to calculation.”
– Pierre-Simon Laplace (French Scholar)
Evidence Bullish Heading Toward 2020 – Baird
Here’s a note from Baird outlining some of the bullish tailwinds for US Equities going into the end of the year.
Shrinking Ranges – Bespoke
Bespoke looks into the lack of intraday volatility by charting the number of consecutive days where the S&P 500 moved less than 1%.
S&P 500 Healthy But There Are Concerns, StockCharts.com’s Keller Says – Bloomberg
David Keller made an appearance on Bloomberg yesterday to share his technical outlook for the S&P 500.
Gold Bugs Defend Breakout Retest At $1,440s-50s, Rally Odds Go Up Near Term – Hedgopia
Here’s an in-depth analysis of Gold from Hedgopia.
Red-Hot Chips Trade Has More Room to Run to Records, According to One Chart – CNBC
Todd Gordon of TradingAnalysis.com explains why he thinks Semiconductor stocks will continue moving higher from here.
Top 10 Tweets
When market is making record highs, a 2-5% correction call seems silly. Then a really tough day comes along and people begin to think the 2-5% is going to become much larger. Remember our favorite phrase…"corrections only seem natural, normal, and healthy until they happen."
— Tony Dwyer (@dwyerstrategy) November 14, 2019
If things seem calm, you are right.
Make that 24 straight days without a 1% daily range for the S&P 500. pic.twitter.com/tl8woiRsU4
— Ryan Detrick, CMT (@RyanDetrick) November 14, 2019
3/ During uptrends investors want to see higher beta, cyclical, strong growth sectors outperforming.
US Tech continues to lead. pic.twitter.com/FTt6JnvJ9v
— Tiho Brkan (@TihoBrkan) November 14, 2019
— Drew Wells, CIMA®, CRPC® (@DrewTheCharts) November 13, 2019
S&P 500 10-day realized volatility is below 3 for the first time since October 2017. pic.twitter.com/QONEBdXGTa
— Luke Kawa (@LJKawa) November 14, 2019
— Charlie Bilello (@charliebilello) November 14, 2019
— Aaron (@ATMcharts) November 14, 2019
— Dana Lyons (@JLyonsFundMgmt) November 14, 2019
Short term loss of momentum (5 minute) at key level on copper. pic.twitter.com/m4lIugPW37
— Linda Raschke (@LindaRaschke) November 14, 2019
$RH 36% short interest….
The look on the face of a short seller when they hear Warren B has taken a position… pic.twitter.com/GFvZo7ycPa
— Christian Fromhertz (@cfromhertz) November 14, 2019
Tuesday, November 19th – Benzinga Global Fintech Awards
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!