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Today’s Summary
Thursday, August 12th, 2021
Indices: US Stocks were mostly higher in today’s session. The Dow was flat, ticking up just 10 points or 0.04%. The S&P 500 and Nasdaq rose 0.30% and 0.35%, respectively. The Russell 2000 underperformed, falling 0.28%.
Sectors: 7 of the 11 sectors closed higher. Health Care led, gaining 0.79%. Industrials lagged, slipping just 0.19%.
Commodities: Crude Oil futures moved lower by 0.23% to $69.09 per barrel. Gold futures ticked lower by just 0.09% to $1,752 per ounce.
Currencies: The US Dollar Index inched higher by 0.11%.
Interest Rates: The 10-year US Treasury yield rose to 1.361%.
are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
$DBA ags setting up pic.twitter.com/0vJsFnttQr
— Gregory Krupinski (@G_krupins) August 11, 2021
Today’s Chart of the Day was shared by Greg Krupinski (@G_krupins). It’s a chart of the Agricultural Commodities ETF, $DBA, over the past six months. This ETF provides exposure to Agricultural Commodities including Corn, Soybeans, Sugar, Coffee, Live Cattle, Lean Hogs, Cocoa, Wheat, and more. Over the past year, Agricultural Commodities have been in the process of reversing higher out of a multi-year downtrend. $DBA began its reversal higher last June, however, the rally ran out of steam this May, and it has been consolidating ever since. Price has tested and failed at resistance around $19.25 three times already this Summer. Will the fourth time be the charm?
Quote of the Day
“The most important thing in life is not to capitalize on your successes – any fool can do that. The really important thing is to profit from your mistakes.”
– Dale Carnegie
Top Links
If Bad Breadth Couldn’t Crack the Market, What Happens if Breadth Improves? – Potomac Fund Management
Dan Russo shares his weekly breadth analysis.
‘Buying the Dip’ Has Been Strong Market Theme All Year Long: Expert – Fox Business
In this clip, Katie Stockton and Andrew Thrasher discuss the current market environment.
Is Transportation Index ETF (IYT) Reversing at Key Price Support? – Kimble Charting Solutions
Chris Kimble points out that the Transportation index is attempting to reverse higher after a three-month downtrend.
Bulls Stay in Charge – Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
Sector Rotation is Getting Discouraging – StockCharts
Greg Schnell examines the recent outperformance from the defensive sectors.
Top Tweets
Investor quiz. When was the last time the S&P 500 experienced a 5% drawdown?
I'll give you a hint. November. It was in November.
Give up?
— Eddy Elfenbein (@EddyElfenbein) August 12, 2021
Stocks look poised to break out relative to bonds. $SPY, $TLT pic.twitter.com/PiN7xQXbBc
— Ian Culley (@IanCulley) August 12, 2021
All of the main US equity indices have made new ATHs in the past few days, except the minor small caps. Even Europe is at an ATH. EMs lagging pic.twitter.com/e3CS0z3itf
— Urban Carmel (@ukarlewitz) August 12, 2021
After market’s March 2009 bottom, small caps accelerated (orange); Russell 2000 saw similar strength off March 2020 low but, virtually right at 1y anniversary of low, started moving sideways
[Past performance is no guarantee of future results] pic.twitter.com/Q9wWFwgd76— Liz Ann Sonders (@LizAnnSonders) August 12, 2021
Is this a bullish or bearish chart configuration? Simple line chart with a few lines and a moving average. No name, but you can probably guess… pic.twitter.com/dmQTKtEtPb
— Arthur Hill, CMT (@ArthurHill) August 12, 2021
Consumer Staples index influence continues to shrink. pic.twitter.com/YiuI3rASfn
— Strategas (@StrategasRP) August 12, 2021
The $VVIX is diverging positively relative to the $VIX on a short-term daily basis (red). It comes on the heels of a recent 3-month positive divergence (blue) that remains unresolved. This unusual condition has tended to precede future volatility spikes. #jwhinvestment pic.twitter.com/gXfOKAvMma
— Jeffrey W. Huge, CMT (@Alpha_Insights) August 12, 2021
Emerging Markets $EEM in free fall – new ATLs relative to $SPY pic.twitter.com/9JZ7GUfFLl
— Steven Strazza (@sstrazza) August 12, 2021
?
Apple vs Amazon$AAPL vs $AMZN pic.twitter.com/RsKf0VUZKc— David Zarling, CMT (@AdaptivCharts) August 12, 2021
Even the Citibank and Wells Fargo of the crypto world is resolving higher… $XRPUSD $XRP pic.twitter.com/18KyPlA1vK
— Louis Sykes (@haumicharts) August 12, 2021
So tomorrow is the 13th #FridayThe13th in August ever.
Good news is the S&P 500 has done just fine in August on this scary day. pic.twitter.com/ts4hrcON9W
— Ryan Detrick, CMT (@RyanDetrick) August 12, 2021
You’re all caught up now. Thanks for reading!