Sponsored By:
Today’s Summary
Wednesday, April 10th, 2019
Indices: US stocks were higher today with the Dow Jones Industrial Average eking out a small gain of 7 points or 0.03%. The Russell was especially strong, finishing up 1.31%, while the S&P and Nasdaq closed up 0.35% and 0.69% respectively.
Sectors: Real Estate led with a gain of 0.77%. Utilities lagged, falling 0.35%.
Commodities: WTI Crude Oil futures rose 0.77% to settle at $64.48 per barrel. Gold futures were higher by 0.29% to settle at $1,312 per ounce.
Currencies: The US Dollar Index was more or less unchanged, slipping just 0.08%.
Interest Rates: The US 10-year Treasury yield fell to 2.468%.
Here are some of the best charts, articles, and ideas being shared on the web today!
Today’s chart of the day was shared on Twitter by Eddy Elfenbein (@EddyElfenbein). It’s a chart comparing the performance of the S&P 500 (blue) and the Dow Jones Industrial Average (red) over the past few weeks. The two usually move together, however, you can see they have begun to diverge recently causing some confusion over how the market is actually doing.
Quote of The Day
“If everyone is thinking alike, then somebody isn’t thinking.”
– George S. Patton (United States WWII General)
Who is More Precious – Peter Brandt
Legendary trader, Peter Brandt takes a look at precious metals. He’s seeing Gold forming a bearish head & shoulders top while Platinum looks like it’s breaking out of a long-term base.
Healthcare Subsector A Provider of Opportunity – Tom Bruni – All Star Charts
Tom Bruni of All Star Charts points out that despite being one of the weakest subsectors within Healthcare, the Healthcare Providers ($IHF) look to be staging a comeback.
WYNN Win – Bruce Fraser – StockChart.com
This article takes a close look at what the technicals are suggesting for shares of Wynn Resorts ($WYNN). Bruce Fraser explains that one theme giving this trade a tailwind is strength from Chinese Large-Cap stocks.
Technical Analyst Uses Short Options on Boeing ($BA) – CNBC
Todd Gordon, founder of tradinganalysis.com was featured on CNBC yesterday. He explained why he’s bearish on Boeing here and walks viewers through how to construct the trade using options.
The Hated Rally Broadens – That’s Good – Michael Kahn
In this piece, Michael Kahn discusses how hated this stock market rally is. He puts forth a list of positive technical developments and explains that the abundance of investor pessimism could actually drive the market higher.
Top 10 Tweets
The Russell 2000 (1,579.26) is playing a game of catch-up; it is approaching its near-term resistance at 1602.10. When it is broken, the Russell 2000 will break from its massive head & shoulder bottom pattern. This bodes very well for the overall market.
— Ralph Acampora CMT (@Ralph_Acampora) April 10, 2019
Quiet session for $SPY as it continues to hold the month to date VWAP, the benefit of doubt continues to go to buyers pic.twitter.com/Qppd7Ixe5O
— Brian Shannon, CMT (@alphatrends) April 10, 2019
#NASDAQ closes within 2% of its all time high! pic.twitter.com/uuQY5u18Uu
— jeroen blokland (@jsblokland) April 10, 2019
$IWM so far this is still playing out. Possible major reversal base pic.twitter.com/lSU9iyqmeK
— Cody Freeman (@ZenTrends) April 10, 2019
Investors Intelligence data shows optimism continues to edge higher. Bulls at 53.9, bears at 19.2, bull-bear spread at 34.7.. pic.twitter.com/kWrwh4SWlL
— Willie Delwiche (@WillieDelwiche) April 10, 2019
Industrial weakness$XLI $DJIA pic.twitter.com/r7Lke4OhoF
— David Zarling (@360research) April 10, 2019
$HCA HCA Healthcare Inc. 1D: neat looking coil on declining volume. where it's headed is anyone's guess.. pic.twitter.com/lQAGvKvWjm
— Shane C. Murphy (@murphycharts) April 10, 2019
$WTI #oil There is a lot of market memory at $64 and 61.8 Fib level. I'm bullish oil, but expect a pause/pullback here before we push thru pic.twitter.com/IGDbvYxJ8S
— Tarek I. Saab (@FibLines) April 10, 2019
It's starting to look like the euro is leaving the Euro pic.twitter.com/VtcmJwLygq
— Dow (@mark_dow) April 10, 2019
Lyft down over 30% from opening day high, rumored to be in talks w/ @RampCapitalLLC to "do something" about this. pic.twitter.com/BXf22Dutl5
— Charlie Bilello (@charliebilello) April 10, 2019