Sponsored By:
Today’s Summary
Wednesday, April 14th, 2021
Indices: US stocks were mixed in today’s session. The Dow Jones Industrial Average inched higher by 54 points or 0.16%. The S&P 500 and Nasdaq fell 0.41% and 0.99%. The Russell 2000 outperformed, gaining 0.84%.
Sectors: 5 of the 11 sectors closed higher. Energy led, rising 2.78%. Tech lagged, falling 1.06%.
Commodities: Crude Oil futures gained 4.94% to $63.15 per barrel. Gold futures fell 0.65% to $1,736 per ounce.
Currencies: The US Dollar Index slipped 0.21%.
Interest Rates: The 10-year US Treasury yield rose to 1.639%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
"Dang the $VIX is low!" -anyone looking at the last 12 months
"Dang the $VIX is high!" -anyone looking at the last 12 years pic.twitter.com/MrmEdFJo9y— David Keller, CMT (@DKellerCMT) April 14, 2021
Today’s Chart of the Day was shared by David Keller (@DKellerCMT). It’s a chart of the Volatility Index ($VIX) over the past two decades. Volatility has continued to calm down in recent weeks, with the VIX currently trading around 17. David points out that the VIX is pretty low right now compared to where it has been in the past year. On the other hand, it’s still fairly high relative to where it has been in the past decade. Of course, we’re coming off a pretty historic year for volatility. If you remember, last year the VIX spiked its highest level since 2008 and then spent the rest of the year refusing to fall below 20. But there have also been years like 2017, where the VIX never once closed above 17. At the end of the day, volatility is in the eye of the beholder!
Sponsored:
Join us this Saturday, April 17th for the 5th Annual Chart Summit!
You’ll have the chance to hear from an elite group of professional technicians as they reveal their market insights and offer professional-level strategies you can use to control risk and increase profitability in today’s market.
It’s fast-paced, action-packed, and completely FREE to attend!
More than 15 speakers are scheduled to deliver fast and informative 25-minute livestream presentations. We will announce the full speaker list shortly — sign up now and check back for the full agenda!
Quote of the Day
“Become more humble as the market goes your way.”
– Bernard Baruch
Top Links
Four Reasons The Future Looks Bright For the Bulls – LPL Financial Research
The team at LPL Financial Research lays out four reasons to embrace this bull market.
Bitcoin in 2017 vs. Now – Bespoke
Bespoke compares the current crypto bull market to the past one.
Willie Delwiche Breaks Down Market Breadth – TD Ameritrade Network
In this clip, Willie Delwiche offers his thoughts on market breadth.
The S&P 500 Reaches Overbought Levels – Potomac Fund Management
Dan Russo shares some key takeaways from the current market environment.
Breaking Through The Glass – All Star Charts
Sean McLaughlin outlines an options trade on Owens Corning, $OC.
Top Tweets
Today was the worst day for the S&P 500 in three weeks, and today wasn't that bad. pic.twitter.com/M5741RbhO5
— Eddy Elfenbein (@EddyElfenbein) April 14, 2021
At close: ? + ?️. pic.twitter.com/TSQidqLeIi
— unusual_whales (@unusual_whales) April 14, 2021
Breadth & leadership remain healthy, which is confirming the new high in the index… it's that simple! $SPX $SPY #stocks pic.twitter.com/F7XcagfiIb
— Grant Hawkridge (@granthawkridge) April 14, 2021
Notable difference here pic.twitter.com/opdb4DPy3M
— Strategas (@StrategasRP) April 14, 2021
While breadth in the Russell 2000 hasn't been strong lately, it hasn't been any weaker than the index itself. https://t.co/OrHvtIpO0A pic.twitter.com/xRFxJVelvM
— Bespoke (@bespokeinvest) April 14, 2021
Is that it for the recent rally in Growth-oriented stocks or will Tech be able to push through this area of short term resistance? pic.twitter.com/3QfHlZMLoN
— Ian McMillan, CMT (@the_chart_life) April 14, 2021
$TNX has traditionally reverted through the mean, not to the mean. Notable exceptions in April 2010 & 2011. pic.twitter.com/hXVsMBQ0kj
— Mark Ungewitter (@mark_ungewitter) April 14, 2021
New highs for Ethereum relative to Bitcoin $ETHBTC pic.twitter.com/oTB2g8LzeK
— Louis Sykes (@haumicharts) April 14, 2021
$GBTC is about six weeks away from passing $GLD in assets via @JSeyff pic.twitter.com/npZLUTXlvW
— Eric Balchunas (@EricBalchunas) April 14, 2021
Gold stocks continue to act well and are at an important inflection point. What if we see a "rotation" out of digital gold and into physical gold. Wouldn't that be something? $GLD #gold #Bitcoin pic.twitter.com/3vhGWulCHS
— Greg Rieben (@gregrieben) April 14, 2021
21 new highs for the S&P 500 this year in less than 70 trading days.
You have to go back to '98 the last time we saw this many new highs so early in a year.
I still say we aren't giving the Year of the Ox enough credit. pic.twitter.com/2DtuF3zzZ5
— Ryan Detrick, CMT (@RyanDetrick) April 13, 2021