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Today's Summary
Thursday, October 19, 2023

Indices: Dow -0.75% | S&P 500 -0.85% | Nasdaq -0.85% | Russell 2000 -1.51%

Sectors: All 11 sectors closed lower. Communications led but still inched lower by -0.10%. Consumer Discretionary lagged, dropping -2.56%.

Commodities: Crude Oil futures rose +1.26% to $88.37 per barrel. Gold futures gained +0.62% to $1,981 per oz.

Currencies: The US Dollar Index fell -0.31% $106.24.

Crypto: Bitcoin rose +1.22% to $28,675. Ethereum was flat at $1,565.

Volatility: The Volatility Index rose +11.41% to a seven-month high of 21.40.

Interest Rates: The US 10-year Treasury yield rose to a new multi-year high of 4.992%.

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 by ForexLive (@ForexLive). Bonds continue to fall off a cliff, with the +20-Year Treasury Bond ETF ($TLT) dropping to its lowest since 2007. Another -3% lower would mark an all-time low for $TLT. ForexLive points out that volume set a new record today, with $TLT trading more than 87 million shares. The previous record was set on the day of the all-time high in 2020. Volume spikes often indicate capitulation. However, you never really know when enough is enough. You're better off sticking with the trend, which remains unequivocally lower.

Quote of the Day

“People worry about the riskiness of stocks, but bonds can be just as risky.”

- Peter Lynch

Top Links

Earnings Season Begins - Trading Adventures
Andy Moss looks at how stocks have held up so far this week.

The Most Volatile Stocks on Earnings - Bespoke
Bespoke highlights stocks that have historically seen large moves post-earnings.

Market Volatility vs. The Bottoming Process - CappThesis
Frank Cappelleri analyzes the recent volatility in the S&P 500.

Home Construction ETF Breaks and a Home Builder Sets up for Further Downside
Arthur Hill examines the outlook for Home Builders ($ITB) and Toll Brothers ($TOL).

Gold Prices Clear 5-Month Downtrend, Important Breakout Test In Play! - Kimble Charting Solutions
Chris Kimble breaks down a long-term chart of Gold.

Trendlines > Headlines

Catch up on the latest episode of Trendlines over Headlines!