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Today’s Summary
Friday, December 20th, 2019
Indices: US stocks ended the week on a positive note with the Dow Jones Industrial Average advancing 78 points or 0.28%. The S&P 500 and Nasdaq closed higher by 0.49% and 0.42%, respectively. The Russell 2000 gained 0.29%.
Sectors: Health Care led, gaining 0.29%. Financials lagged, falling 0.39%.
Commodities: Crude Oil futures fell 1.02% to $60.38 per barrel. Gold futures slipped 0.13% to $1,482 per ounce.
Currencies: The US Dollar Index rose 0.34%.
Interest Rates: The US 10-year Treasury yield slipped to 1.919%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
$SPY hard to complain or be too upset with a 13% gain from the OCT lows. Congrats. And Happy Holidays if you're out the next couple week. Last December distant memory eh? pic.twitter.com/tellHWqTXc
— Cousin_Vinny (@Couzin_Vinny) December 20, 2019
Today’s Chart of the Day was shared on Twitter by Cousin Vinny (@Couzin_Vinny). It’s a daily candlestick chart of the S&P 500 ETF, $SPY, over the course of 2019. The ETF closed at an all-time high today for the sixth time this month. Vinny highlights the fact that the index is up about 13% from the October lows. This is a stark contrast to how the S&P 500 was performing this time last year. Between October 1st and Christmas eve of last year, the index plunged nearly 20%, which was unusual considering that the fourth quarter is typically bullish for stocks. It’ll be interesting to see if $SPY will continue to charge higher going into the new year.
Quote of the Day
“Wouldn’t economics make a lot more sense if it were based on how people actually behave, instead of how they should behave?”
– Dan Ariely (Professor)
Top Links
Asian Tigers Make New Highs – The Chart Report
In this week’s Chart of the Week column, we point out that the Asia 50 ETF, $AIA, is breaking out. This ETF represents the “Four Asian Tigers” (Hong Kong, Taiwan, South Korea, and Singapore).
What Big Stock Market Returns in 2019 Mean For 2020 – A Wealth of Common Sense
Using history as a guide, Ben Carlson examines what 2019’s double-digit gains suggest for 2020.
Slicing and Dicing Seasonality – StockCharts.com
Julius de Kempenaer shares a unique chart that helps to visualize seasonality at the sector level.
Hirsch: If the Santa Claus Rally Should Fail to Call, Bears May Come to Broad & Wall – CNBC
Jeff Hirsch made an appearance on CNBC this morning to discusses some of the seasonality indicators to keep an eye on in the coming weeks.
Weekend Stock Market Recap – The Trade Risk
In this video, Evan Medeiros sums up this week’s price action in the major averages and sectors.
Top 10 Tweets
Another impressive performance given our general liqudity conditions: Nasdaq is up 8 straight trading days for the longest unbroken climb since July 2017 pic.twitter.com/Q0TY9I4zGN
— John Kicklighter (@JohnKicklighter) December 20, 2019
The global Bull Market of year 2019 in one chart! pic.twitter.com/TT1dNdISlA
— Tomasz Hońdo (@HondoTomasz) December 20, 2019
While $FDX has disappointed everyone, the Russell 3000 index of shippers has broken out. pic.twitter.com/taaZ8jVqjc
— RenMac: Renaissance Macro Research (@RenMacLLC) December 20, 2019
European Banks breaking out on a Relative Basis. It's hard to even say that with a straight face. But it's true $EUFN $STOXX #E1FIN $DB $CS $UBS $BNP $INGA pic.twitter.com/6398gx6raQ
— J.C. Parets (@allstarcharts) December 20, 2019
$SLV:$GLD ratio-a close over the bollinger band confirms the breakout of silver pic.twitter.com/H7ka7VrGE6
— Michele Schneider (@marketminute) December 20, 2019
Some interesting action in the $SLV today pic.twitter.com/DyaoIRFeUo
— Drew Wells, CIMA®, CRPC® (@DrewTheCharts) December 20, 2019
Palladium has been a great performer since its '08 lows, up over 1100%, but if we take a step back it only broke above its '01 highs a year ago for gains of roughly 80%.
How do you all think the next decade will treat thi… https://t.co/vZVGuAxkjT pic.twitter.com/afxF6g7vOi
— Tom Bruni, CMT (@BruniCharting) December 20, 2019
Coal Stocks Hitting 4-Year Lows #HighLowFriday pic.twitter.com/fopr20A8rI
— Dana Lyons (@JLyonsFundMgmt) December 20, 2019
Amazon has become one boring stock. Price action is as lackluster as it was in October 2017, just before a big breakout and surge higher. Bollinger Bands are at their narrowest point in over 2 yrs (Bandwidth is below 10). Stock is winding up for a breakout. Watch 1840. $AMZN pic.twitter.com/ZojFRsmwTQ
— Arthur Hill, CMT (@ArthurHill) December 20, 2019
$TSLA Where are all of the Tesla bears? They were so brave when the stock was < $200. And a lot of them lost so much $$ buying puts in Feb-July'19. I've been reposting those bets from time to time earlier this year. pic.twitter.com/ZM5XE9Jllx
— Yuriy Matso (@yuriymatso) December 20, 2019
You’re all caught up now. Thanks for reading!