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Daily Chart Report ? Monday, May 11th, 2020

May 11, 2020

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Today’s Summary
Monday, May 11th, 2020

Indices: US Stocks were mixed in today’s session with the Dow Jones Industrial Average falling 109 points or 0.33%. The S&P 500 was unchanged (0.02%), while the Nasdaq rose 0.78%. The Russell 2000 was the weakest of the major indices, dropping 0.63%.

Sectors: Health Care led, gaining 1.72%. Financials lagged, falling 1.93%.

Commodities: The June Crude Oil futures contract moved lower by 2.43% to $24.14 per barrel. Gold futures fell 0.93% to $1,698 per ounce.

Currencies: The US Dollar Index jumped 1.14%.

Interest Rates: The US 10-year Treasury moved higher to 0.716%.

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 in a research note by Frank Cappelleri of Instinet (@FrankCappelleri). Frank points out that the Volatility Index ($VIX) made a new low last week, while the Volatility of the Volatility Index ($VVIX) did not. This divergence is a sign that Volatility could pick-up again in the coming weeks. Keep in mind, a similar divergence between $VIX and $VVIX preceded the February-March crash.  Will this divergence prove to be a timely signal once again? Only time will tell, however, this is certainly a potentially bearish development worth monitoring in the near-term.


Quote of the Day

“The oldest, shortest words – ‘yes’ and ‘no’ – are those which require the most thought.”

– Pythagoras (Greek Philosopher)


Top Links

Weekly S&P 500 #ChartStorm – Topdown Charts
Callum Thomas highlights ten insightful charts that speak to the current market environment.

Mid Caps Strengthen As Markets Test Key Price Levels – Your Daily Five
In this video, Grayson Roze of StockCharts.com breaks down five important charts to keep an eye on right now.

Most Gains Come When Traders are Sleeping – SentimenTrader
Jason Goepfert points out that most of the stock market’s gains have occurred during the overnight trading hours as opposed to the day session.

Podcast with Market Strategist, Jordan Kotick – Technical Analysis Radio
In this podcast, host JC Parets, interviews Market Strategist, Jordan Kotick. He discusses the importance of analyzing the markets from a global perspective.

Banks Continue to Send Bearish Divergence Message at 800 Pound Resistance – Kimble Charting Solutions
Chris Kimble explains that the Bank Index, $BKX, could send a bearish signal to the broader market if it fails to break through a critical resistance level in the next few weeks.


Top 10 Tweets


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