Friday, November 15th, 2019
Indices: US stocks ended the week on a positive note with the Dow Jones Industrial Average advancing 223 points or 0.80%. The S&P 500 and Nasdaq gained 0.77% and 0.73%, respectively. The Russell 2000 was the weakest of the major averages but still rose 0.48%.
Sectors: Health Care significantly outperformed, gaining 2.13%. Materials were the only negative sector, slipping just 0.10%.
Commodities: Crude Oil futures moved higher by 1.74% to $57.75 per barrel. Gold slipped 0.33% to $1,468 per ounce.
Currencies: The US Dollar Index fell by 0.17%.
Interest Rates: The US 10-year Treasury yield moved higher to 1.836%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
— Grant Hawkridge (@granthawkridge) November 15, 2019
Today’s Chart of the Day was shared on Twitter by Grant Hawkridge (@granthawkridge). On top is a daily candlestick chart of the S&P 500 ETF, $SPY. In the middle is $SPY/$TLT, and on the bottom is $SPY/$GLD. Stocks ($SPY) have underperformed both Bonds ($TLT) and Gold ($GLD) so far this year. However, with less than two months left in 2019, Stocks seems to be firming up relative to the other two asset classes. As you can see, $SPY/$TLT recently broke out of a multi-month downtrend, and $SPY/$GLD looks like it’s trying to do the same. It would be bullish for the broader market to see Stocks regain leadership over safe-haven assets like Bonds and Gold.
Quote of the Day
“The most dangerous person is the one who listens, thinks and observes.”
– Bruce Lee (Actor)
The New High in XLI – The Chart Report
In this week’s Chart of the Week column, we explain why new highs for the Industrial sector are bullish for the broader market.
Nasdaq 100 Futures Look Bullish, Interactive Brokers’ Sosnick Says – Bloomberg
Steve Sosnick of Interactive Brokers and Abigail Doolittle of Bloomberg discuss Nasdaq 100 futures and why they’re likely headed higher.
High Low Friday – 11/15/2019
Dana Lyons highlights some noteworthy stocks and ETFs that are currently trading at new highs/lows
Double Trouble – SentimenTrader
Jason Goepfert points out that two technical warning signs have recently triggered, the “Hindenburg Omen” and the “Titanic Syndrome.”
The Wall Street Noise Machine – All Star Charts
Tom Bruni of All Star Charts talks about some of the dangers of trying to trade the 24/7 news cycle and how charts allow you to remain objective by tuning out the noise.
Top 10 Tweets
— Bill Griffeth (@BillGriffeth) November 15, 2019
It's crazy to think the Dow traded for 55 back in 1914 pic.twitter.com/wg2MmTqqog
— Scheplick (@scheplick) November 15, 2019
Wall Street Week…
S&P 500: All-Time High (above 3,100 for first time) 👏
Dow: All-Time High (above 28,000 for first time) 👏
Nasdaq: All-Time High 👏
Wilshire 5000: All-Time High 👏
Trade War: Won Again 🙌 pic.twitter.com/EuLfN83Cev
— Charlie Bilello (@charliebilello) November 15, 2019
S&P futures have not closed below previous day's low for 30 trading days. We're set for slight correction.
Bull markets, by nature, become and remain overbought.
— Peter Brandt (@PeterLBrandt) November 15, 2019
If your bear case hinged on this pattern…now what? pic.twitter.com/Kkl3alCr3B
— Dan Russo, CMT (@DanRusso_CMT) November 15, 2019
— Mark Arbeter, CMT (@MarkArbeter) November 15, 2019
Lotsa warning flags (divergences, Hindenburg/Titanic omens, et al) but as long as trend remains up they're only warning flags. (This is an hourly chart w/a 63 hour ema.) But may reverse suddenly when the time comes w/so many people anticipating it and just waiting for The Sign.) pic.twitter.com/KZ0DpczOCg
— Walter Deemer (@WalterDeemer) November 15, 2019
— Louis (@haumicharts) November 15, 2019
Apple and Microsoft could overtake the Russell 2000 in terms of market cap today. Stay tuned! pic.twitter.com/miAis5w8I1
— Bespoke (@bespokeinvest) November 15, 2019
Ford vs. Ferrari pic.twitter.com/2WQpj0iiEB
— Joseph Fahmy (@jfahmy) November 15, 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!