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Today’s Summary
Friday, June 25th, 2021
Indices: US Stocks closed higher in today’s session, with the Dow advancing 237 points or 0.69%. The S&P 500 rose 0.33%, while the Nasdaq was flat (0.06%). The Russell 2000 was also flat (0.03%).
Sectors: 10 of the 11 sectors closed higher. Financials led, rising 1.21%. Technology lagged, inching lower by just 0.12%.
Commodities: Crude Oil futures moved higher by 1.02% to their highest level in more than two years at $74.05 per barrel. Gold futures were flat (0.06%) and continue to trade at $1,778 per ounce.
Currencies: The US Dollar Index was unchanged.
Interest Rates: The 10-year US Treasury yield rose to 1.531%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Extended market breaking out. pic.twitter.com/pbVjianiQi
— Strategas (@StrategasRP) June 25, 2021
Today’s Chart of the Day was shared by Strategas Research (@StrategasRP). It’s a chart of the S&P Completion Index over the past 2.5 years. The Completion Index contains all non-S&P 500 stocks. In other words, the ‘extended market.’ There are over 3,400 stocks in the index, but some of the top holdings include, $SQ, $UBER, $ZM, $BX, and $SNAP. Strategas points out that the extended market is breaking out to record highs, after a four-month consolidation. One of the biggest concerns in recent weeks has been the deterioration in market breadth, measured by the percentage of S&P 500 stocks above their 50-day moving average. But, this is one sign that perhaps participation is broader and healthier than other metrics are suggesting. The ETF, $VXF, tracks the Completion Index if you’d like to keep an eye on it.
Quote of the Day
“If you tell the truth, you don’t have to remember anything.”
– Mark Twain
Top Links
Weekly Market Performance – Market Rally and Rebound – LPL Financial Research
The team at LPL Financial Research recaps this week’s market performance.
Bears in Hibernation – Bespoke
Bespoke analyzes the results of the latest sentiment surveys.
Bitcoin Hammering Out a Bottom; Tesla Breaking Out – Yahoo Finance
JC Parets shares his technical perspective on Bitcoin, Tesla, ARKK, and European Banks.
Where Do We (Investors) Stand – David Cox
In this quick video, David Cox highlights some noteworthy technical developments to keep an eye on.
$BUG Global Cybersecurity ETF: Bullish Ascending Triangle (Breakout Watch!) – Kimble Charting Solutions
Chris Kimble points out that the Cybersecurity ETF, $BUG, is breaking out of a bullish consolidation pattern.
Top Tweets
The S&P 500 is close to doubling its low from 15 months ago. pic.twitter.com/7mOx8oAhnr
— Eddy Elfenbein (@EddyElfenbein) June 25, 2021
$SPX $COMPQ $INDU Strong weekly index charts. Another in a series of bullish "tweezer" candles (2-day reversal candles) on the Dow and S&P charts, and a new high on the NASDAQ Composite chart. pic.twitter.com/IZ3KTQDKD7
— Rob Moreno (@rightviewrob) June 25, 2021
$ES, weekly
This is the third bullish reversal week in the last 12 months. The prior two similar reversals led to higher prices. pic.twitter.com/9HlBFjgZnI
— Yuriy Matso (@yuriymatso) June 25, 2021
$VIX falling for 5 days in a row after testing above 20 last week for the first time since late May pic.twitter.com/OjuJJq0H5k
— Grayson Roze (@GraysonRoze) June 25, 2021
Growth vs Value: First O/B RSI reading since last September comes as the ratio regains the 200-dma. pic.twitter.com/8kBdUfF7fn
— Dan Russo, CMT (@DanRusso_CMT) June 25, 2021
Semis have been out of favor but $MU and others are showing signs of life with supportive DeMARK Indicators #fairleadstrategies pic.twitter.com/Ut8mhDJqtT
— Katie Stockton, CMT (@StocktonKatie) June 25, 2021
How are these classic "risk-off" assets holding up against US stocks?
As of right now, not too well…$IEF $GLD $XLP pic.twitter.com/UYOkr6qz41
— Ian McMillan, CMT (@the_chart_life) June 25, 2021
This chart is for the bulls. Consumer Staples making new lows relative to the S&P 500 after this continuation pattern resolved in favor of the underlying trend. One more to add to the mixed signals we are seeing in this messy market.$XLP / $SPY pic.twitter.com/uHYLeH9DcN
— R. Alfonso Depablos (@AlfCharts) June 25, 2021
#brazil $BRLUSD — Brazil Real looks set to (further) extend recent strength – potential longer-term turnaround. pic.twitter.com/d7Hna8Ob36
— Nautilus Research (@NautilusCap) June 25, 2021
a little fun for your cocktail party this weekend. when someone tries to tell you about lumber, just tell them its price is a the same level as it was last August (10 months ago).
let's move on. pic.twitter.com/5TmqoKz65i
— David Cox, CMT, CFA (@DavidCoxWG) June 25, 2021
You’re all caught up now. Thanks for reading!