Tuesday, November 26th, 2019
Indices: US stocks were slightly higher in today’s session with the Dow Jones Industrial Average inching up 55 points or 0.20%. The S&P 500 and Nasdaq rose 0.22% and 0.18%, respectively. The Russell 2000 was the weakest of the major indices, changing just 0.14%.
Sectors: Real Estate led, gaining 1.39%. Energy lagged, falling 0.92%.
Commodities: Crude Oil futures moved higher by 0.99% to $58.21 per barrel. Gold futures rose 0.38% to $1,463 per ounce.
Currencies: The US Dollar Index was slightly higher by 0.14%.
Interest Rates: The US 10-year Treasury yield fell to 1.738%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
— David Keller, CMT (@DKellerCMT) November 26, 2019
Today’s Chart of the Day was shared on Twitter by David Keller (@DKellerCMT). It’s a daily bar chart of the Financial sector ETF, $XLF, over the past two years. The top three holdings in this ETF include; Berkshire Hathaway ($BRK.B), JP Morgan Chase ($JPM), and Bank of America ($BAC). $XLF is currently breaking out of a massive two-year base. Chart setups like this one, where price breaks out of a long-term base, are often followed by impressive rallies. David explains that it’s hard to be bearish on the broader market right now when vital sectors, like Financials, are breaking out like this.
Quote of the Day
Midweek Stock Market Recap – The Trade Risk
In this video, Evan Medieros recaps this week’s price action and highlights the most notable moves.
Was That All Foreign Equities Could Muster? -All Star Charts
Tom Bruni of All Star Charts makes the case that US stocks are still more favorable than international stocks.
Trading Thanksgiving: Long into Any Weakness, Exit into Strength by Week’s End – Almanac Trader
Seasonality Expert, Jeff Hirsch discusses how the stock market tends to perform in the days/weeks surrounding Thanksgiving.
Health Care (XLV) Ending the Year Strong – Bespoke
Bespoke explains that the Health Care sector is beginning to show signs of life after being one of the weakest sectors in 2019.
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Top 10 Tweets
S&P 500: 10th all-time high close in November! pic.twitter.com/Obtt20IiOg
— jeroen blokland (@jsblokland) November 26, 2019
— Scott Redler (@RedDogT3) November 26, 2019
Small caps just went more than a year without a new 52-week high.
They just joined the party yesterday.
What does this mean?
Well, when the Russell 2000 has gone more than a year without a new 52-week high, it has been higher a year later 10 of 11 times and up 17.0% on avg. pic.twitter.com/ETKmyJNISD
— Ryan Detrick, CMT (@RyanDetrick) November 26, 2019
— Dan Russo, CMT (@DanRusso_CMT) November 26, 2019
Vol in every asset class is at least half a standard deviation below its one-year average
(stocks, Treasuries, high yield, oil, FX) pic.twitter.com/STZjM4B3WN
— Luke Kawa (@LJKawa) November 26, 2019
i'd still like to see improvement in these high-yield spreads – bond buyers are sticky with the relative safety of governments or so it looks… we're not even close to 2019 highs despite the equity market bullishness $HYG $TLT pic.twitter.com/JMA1bL5XSS
— David Cox, CMT, CFA (@DavidCoxWG) November 26, 2019
— Brian Shannon, CMT (@alphatrends) November 26, 2019
if you think buying bonds & gold is better than buying stocks over the next few months, $TLT & $GLD so far have remained above oversold conditions (>30 14-day RSI). Imo that would need to remain the case for u to have a chance of being right. I'm open minded. We'll see $SPX $DJIA pic.twitter.com/975IOGlOcx
— J.C. Parets (@allstarcharts) November 26, 2019
— Koyfin (@KoyfinCharts) November 26, 2019
I mean. pic.twitter.com/yyUjt9oAoS
— Arun S. Chopra CFA CMT🧐 (@FusionptCapital) November 26, 2019
You’re all caught up now. Thanks for reading!