Daily Chart Report ? Friday, January 8th, 2021
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Today’s Summary
Friday, January 8th, 2021
Indices: US Stocks closed higher in today's session with the Dow Jones Industrial Average inching up 57 points or 0.18%. The S&P 500 and Nasdaq rose 0.55% and 1.03%, respectively. Small Caps underperformed, with the Russell 2000 slipping 0.25%.
Sectors: 7 of the 11 sectors closed higher. Consumer Discretionary led, rising 2.06%. Materials lagged, falling 0.48%.
Commodities: Crude Oil futures moved higher by 2.59% to $52.24 per barrel. Gold futures slid 4.09% to $1,835 per ounce.
Currencies: The US Dollar Index gained 0.30%.
Interest Rates: The 10-year US Treasury yield rose to 1.122%
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 on Twitter by Stocktwits (@Stocktwits). It's a weekly chart of the Emerging Markets ETF, $EEM over the past 13-years. As Stocktwits points out, $EEM, just closed at a weekly all-time high for the first time in over a decade. Why do we care about all-time highs? Because once price reaches uncharted territory like this, there is virtually no overhead supply to prevent price from moving significantly higher. Emerging Markets are a popular asset class for investors, but it's been a painful decade+ for them. In fact, they're just now recovering their Pre-Financial Crisis highs. After more than a decade of zero progress, could Emerging Markets finally make a new leg higher? Stay tuned!
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Quote of the Day
"The secret of being a bore is to tell everything."
– Voltaire
Top Links
Stocks Off to Strong Start to 2021 - Bespoke
Bespoke reviews this week's leaders/laggards.
A Look at Global Equities - AlphaCharts
Brian at AlphaCharts examines the breakout in Global Equities.
Where Do We (Investors) Stand? - David Cox
In this quick video, David Cox highlights some noteworthy technical developments.
Fill The Gap Podcast w/ Robert Farrell - CMT Association
Here's a great conversation with the respected technical analyst, Bob Farrell.
The Commodities Rally Hinges on a Euro Breakout! - Kimble Charting Solutions
Chris Kimble explains that Commodities will need the Euro to breakout in order to continue higher.
