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Daily Chart Report ? Monday, October 14th, 2019

October 14, 2019

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Today’s Summary
Monday, October 14th, 2019

Indices: US stocks were slightly lower in today’s session with the Dow Jones Industrial Average slipping just 23 points or 0.11%. The S&P 500 and Nasdaq changed 0.14% and 0.10%, respectively. The Russell 2000 was the weakest of the major averages falling 0.43%.

Sectors: Real Estate led, gaining 0.15%. Materials lagged after leading on Friday, falling 0.71%.

Commodities: Crude Oil futures fell 2.03% to $53.59 per barrel. Gold futures moved higher by 0.60% to $1,498 per ounce.

Currencies: The US Dollar Index rose 0.14%.

Interest Rates: The US 10-year Treasury yield was unchanged at 1.734%.

Here are the best charts, articles, and ideas being shared on the web today!


Chart of the Day

Today’s Chart of the Day was shared on Twitter by Drew Wells (@DrewTheCharts). It’s a daily candlestick chart of the Large-Cap Russell 1000 index ($RUI). The bottom pane of the chart is a breadth indicator showing the percentage of stocks above their 200-day moving average. Drew points out that 50% of the Russell 1000 components remained above their 200-day moving average at the recent lows. 50% is a critical level to watch on this indicator. The Russell 1000 has bounced every time the indicator approaches 50%. However, things tend to get ugly fast when the percentage of stocks above their 200-day moving average falls below 50% like it did in Q4 2018. To learn more about the importance of watching this indicator, check out this report.


Quote of The Day

“The need to be right is the sign of a vulgar mind.”
– Albert Camus (Philosopher)

Top Links

Columbus Day Markets – Bespoke
Bespoke examines the typical performance of the S&P 500 in the week following Columbus Day.

Mish’s Daily: Quiet Holiday Trading Prevailed – Market Gauge 
Michele Schneider sums up today’s quiet price action and lays out the levels to watch on some key industry groups.

Momentum Monday…Why Aren’t Markets Higher? – Howard Lindzon
In this video, Howard Lindzon and Ivanhoff do their weekly run-through of dozens of charts in order to identify the strongest trends and momentum stocks.

The Final Bar with Guest Ryan Detrick – StockCharts
In this episode of The Final Bar, host David Keller does a deep dive on the Communications sector and discusses the Presidential Cycle with guest, Ryan Detrick.

The Gap in the S&P 500 is Still Waiting to be Filled – Mott Capital Management
Michael Kramer shares his thoughts on the S&P 500 and highlights some individual stocks with bullish chart setups.


Top 10 Tweets



Upcoming Events

Tuesday, October 15th – Minnesota Chapter Meeting Featuring Dave Keller, CMT

Tuesday, October 22nd – New York Chapter Meeting Featuring Sam Stovall


You’re all caught up now. Thanks for reading!

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