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Today’s Summary
Monday, September 13th, 2021
Indices: US Stocks closed higher to start the week, with the Dow rebounding 262 points or 0.76%. The S&P 500 snapped a five-day losing streak, rising 0.23%. The Nasdaq ticked lower by just 0.07%. The Russell 2000 rose 0.59%.
Sectors: 8 of the 11 sectors closed higher. Energy was the clear leader, gaining 2.87%. Health Care lagged, falling 0.62%.
Commodities: Crude Oil futures rose by 1.05% to $70.45 per barrel. Gold futures inched higher by 0.13% to $1,794 per ounce.
Currencies: The US Dollar Index was flat (0.03%).
Interest Rates: The 10-year US Treasury yield moved higher to 1.328%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
$SMH Semis with new all-time closing highs. pic.twitter.com/MFlmyBmvzN
— Shane C. Murphy (@murphycharts) September 13, 2021
Today’s Chart of the Day was shared by Shane Murphy (@MurphyCharts). It’s a daily candlestick chart of the Semiconductor ETF, $SMH, year-to-date. The top-weighted stocks in this ETF include Taiwan Semiconductor ($TSM), NVIDIA, ($NVDA), ASML Holdings ($ASML), Analog Devices ($ADI), and Advanced Micro Devices ($AMD). While the broader market has pulled back slightly over the past week, Semiconductor stocks continue to shine. As you might know, Semiconductors are the chips that are found in virtually every electronic device. Due to their widespread use, Semiconductors often act as a leading indicator for both the Technology sector and the broader market. The fact that we’re continuing to see this group print all-time highs in an otherwise dull tape is an encouraging sign for the bulls. Remember, you can’t have a party without the chips!
Quote of the Day
“One secret that most professionals know is that you can rack up a fortune in the market by being right less than 50% of the time.”
– Stan Weinstein
Top Links
Does the Transportation ETF (IYT) Hold Fate of Stock Market? – See It Market
Michele Schneider explains why Transportation stocks are an important group to watch right now.
7-Chart Sunday (9/12/21) – Compound
Charlie Bilello highlights some notable trends to keep an eye on.
Nine Country ETFs That Are Starting to Emerge – StockCharts
Martin Pring takes a look at several international ETFs that are attempting to breakout.
China’s Crackdown on Big Tech – Means to a Trend
Austin Harrison shares his contrarian outlook on Chinese Equities.
Bifurcation Nation – The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss several noteworthy technical developments on their radar.
Top Tweets
Via @StrategasRP The next 30 days are historically choppy pic.twitter.com/gRmHAYRKdZ
— Michael Antonelli (@BullandBaird) September 13, 2021
From last night's Thrasher Analytics letter…
We've gone 28 weeks without a 2% weekly decline, matching Q4 '18 and one of the longest streaks in 30 years. pic.twitter.com/YsAVW19rqk
— Andrew Thrasher, CMT (@AndrewThrasher) September 13, 2021
#RTY_f, 1d
Russell is still moving within that 9 months box.
Key pivots:
2200
2350
2100 pic.twitter.com/NJazs87nWu— Yuriy Matso (@yuriymatso) September 13, 2021
$IWM The 50 day moving average has been of interest the last couple of months… $RUT pic.twitter.com/gROjAhlxMC
— Greg Rieben (@gregrieben) September 13, 2021
Some easing in hedge funds’ bearish Russell 2000 futures positions last week; but in broader context, small caps still not feeling much love
@Bloomberg pic.twitter.com/324jXjzZZt— Liz Ann Sonders (@LizAnnSonders) September 13, 2021
?Notice shaded yellow areas of the S&P 500 chart denote monthly Op/EX week.
?10 of last 13 monthly Op/EX weeks resulted in a down week for S&P 500.
?Most recent August monthly Op/EX week, the S&P 500 fell roughly .60%
?Sept back to 1984 $SPX positive 59% of Op/EX weeks pic.twitter.com/mA2FMtsFRK
— Seth Golden (@SethCL) September 13, 2021
The repeated choppiness around options expiration raises the question: “is this too obvious now?” – @jkrinskypga pic.twitter.com/CwKUeXXmvj
— Carl Quintanilla (@carlquintanilla) September 13, 2021
Semis looking good here $SMH pic.twitter.com/qFP9BXexea
— Christian Fromhertz (@cfromhertz) September 13, 2021
$XLE Energy standing out today. pic.twitter.com/DGd318V5o6
— Pratyush Tulsian (@PrattyCharts) September 13, 2021
#natgas notches a fresh 7.5yr high. Also the highest for this time of year since 2008! $UNG @enelyst_
Back above $5 pic.twitter.com/avShftnpfW— Mike Zaccardi, CFA, CMT (@MikeZaccardi) September 13, 2021
Talk about an inflection point, eh?
Not only does 44,000 represent the 38.2% retracement from the recent uptrend, but also the AVWAPs from the July low and ATHs $BTC #Bitcoin pic.twitter.com/n8Z8CcMihp
— Louis Sykes (@haumicharts) September 13, 2021
You’re all caught up now. Thanks for reading!