Friday, March 29th, 2019
Indices: US stocks ended the week on a positive note, with the Dow Jones Industrial Average closing up 211 points or 0.82%. Today marked the end of the strongest quarter for the S&P 500 since 2009!
Stocks: The ride-sharing company Lyft ($LYFT) had its IPO today. Despite selling off throughout the day, it still closed 8.74% higher than its IPO price of $72 for a market valuation of over $22 Billion.
Sectors: Healthcare led with a gain of 1.20% while Energy lagged falling 0.15%.
Commodities: WTI Crude Oil futures rose 1.4% to close at $60.14 per barrel. Gold futures were higher by 0.13% to settle at $1,297 per ounce.
Currencies: The US Dollar Index was relatively flat, changing just 0.01%.
Interest Rates: The US 10-year Treasury yield moved higher to 2.407%.
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 Willie Delwiche (@WillieDelwiche). The chart is a quarterly candlestick chart of the S&P 500, meaning each candle represents 3 months. We like the chart because it emphasizes the volatility we’ve seen over the past six months. The fourth quarter of 2018 was one of the worst quarters in years followed by one of the best quarters in years.
Quote of The Day
“Those who keep learning will keep rising in life”
– Charlie Munger, (American Investor)
Two Under-the-Radar Retail Stocks Could Be on the Brink of a Breakout – CNBC
Ari Wald of Oppenheimer made an appearance on CNBC on Thursday to give his technical take on the Retail sector. He says he sees “pockets of strength” but thinks there are more attractive areas of the market to be in right now.
The Price Action is Right – John Roque – Real Vision
In this Trade Ideas segment from Real Vision, technical analyst John Roque lays out his bullish thesis on China’s Shanghai Composite.
A Strange Trip With Some Strange Leaders – Bespoke
Here’s a quick read from Bespoke where they breakdown the Q1 performance of the components of the Dow Jones Industrial Average. They found that Boeing was the best performing component by a wide margin.
Failed Breakouts Can Be Bigger Clues – Greg Schnell – StockCharts.com
This piece from Greg Schnell takes a look at the failed breakouts he’s seeing in Gold and Mining stocks.
Stock Market Video Analysis March 29th, 2019 – Brian Shannon
Here’s a video of Brian Shannon’s weekly market recap. He highlights some of the short-term technical trends he’s seeing in the market right now.
Top 10 Tweets
Best quarterly return for the S&P 500 since Q3 2009.
Best Q1 return since 1998. pic.twitter.com/LndcJrvwlU
— Ryan Detrick, CMT (@RyanDetrick) March 29, 2019
— Abigail Doolittle (@TheChartress) March 29, 2019
— Mark Newton (@MarkNewtonCMT) March 29, 2019
#SHCOMP + 3 1/2% & has consolidated for last 4 wks – high pole & flag pattern here is very constructive. This is the 6th up cycle for SHCOMP since early 90's. Prior cycles have looked like this: 2 mos + 223%, 16 mos +194%, 25 mos +123%, 27 mos +510%, 12 mos +126%. Below for more pic.twitter.com/S6Q2cSHbuS
— da Chart Life (@daChartLife) March 29, 2019
— Mark Arbeter, CMT (@MarkArbeter) March 29, 2019
— Pat Mullaly, CMT (@PMullaly_TDA) March 29, 2019
— Dan Russo, CMT (@DanRusso_CMT) March 29, 2019
— Dana Lyons (@JLyonsFundMgmt) March 29, 2019
— Alastair Williamson (@StockBoardAsset) March 29, 2019
The carnage in Agriculture Commodities CORNtinues.
No sign of a bottom here, imo. pic.twitter.com/f9G59G9gqg
— Tom Bruni, CMT (@BruniCharting) March 29, 2019