Thursday, December 12th, 2019
Indices: US stocks rallied today with the Dow Jones Industrial Average gaining 221 points or 0.79%. The S&P 500 and Nasdaq were up 0.86% and 0.73%. The Russell 2000 closed higher by 0.79%.
Sectors: Financials led, gaining 1.95%. Real Estate lagged for the third day in a row, falling 1.21%.
Commodities: Crude Oil futures moved higher by 1.80% to $59.32 per barrel. Gold futures slipped 0.18% to $1,472 per ounce.
Currencies: The US Dollar Index dropped 0.66%.
Interest Rates: The US 10-year Treasury yield rose to 1.913%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
— Robert Lesnicki (@Robertlesnicki) December 12, 2019
Today’s Chart of the Day was shared on Twitter by Robert Lesnicki (@Robertlesnicki). It’s a histogram showing the number of new highs in the NYSE, minus the number of new lows. Robert points out that this breadth indicator printed its highest reading in over five years today. In addition, The NYSE Composite Index closed at an all-time high for the first time in nearly two years. When markets breakout like this, it’s healthy to see indicators like this one confirming the breakout. It shows that there is broad participation from the individual components of the index rather than being led by a small handful of names.
Quote of the Day
Dan Russo’s Market Outlook – TD Ameritrade Network
Dan Russo of Chaikin Analytics was on TD Ameritrade Network earlier today to discuss his bullish outlook on the market.
Using The Metal Markets to Forecast The Direction of Interest Rates – Andrew Thrasher
Andrew Thrasher examines the Copper/Gold ratio and what it means for US interest rates.
Volatility Breeds Volatility in S&P E-Mini Futures – Bloomberg
Eric Dugan of 3D Capital Management shares his thoughts on Volatility and the S&P 500.
Copper’s Seasonal Rally is Underway – Almanac Trader
Seasonality expert, Jeff Hirsch explains that Copper tends to bottom around this time of year, and peak around April/May.
Have You Seen What Base Metals Are Doing? – All Star Charts
Tom Bruni takes a look at the recent strength in base metals.
Top 10 Tweets
— MACRO-OPS (@MacroOps) December 12, 2019
— jeroen blokland (@jsblokland) December 12, 2019
Say what you want about Dow Theory. I'm always interested when I see nonconfirmation between $INDU and $TRAN. Sure, both these indexes mean very different things now… but they still represent two different segments of the economy, and they are presently not in agreement. pic.twitter.com/XvAm4H60My
— David Keller, CMT (@DKellerCMT) December 12, 2019
— Charlie Bilello (@charliebilello) December 12, 2019
The outperformance by the banks is quite bullish for this market. Ditto for the brokers #stocks
Chart TradeStation pic.twitter.com/8tPkvzZLrU
— marderonthemarket (@mardermarket) December 13, 2019
Prior relative strength in the Vanguard Real Estate ETF $VNQ against the S&P 500 has turned lower as we near the end of 2019. $AMT $CCI and $SPG are a few of the top holdings. pic.twitter.com/RM7CnAF5BZ
— Mitchell Warren (@MitchellKWarren) December 13, 2019
Best day in nearly six months for EEM. pic.twitter.com/LBHdebU1Wh
— Bespoke (@bespokeinvest) December 12, 2019
— Matt (@commander10) December 12, 2019
— BostonCharts (@bostonchaahhts) December 12, 2019
— Aaron (@ATMcharts) December 12, 2019
You’re all caught up now. Thanks for reading!