Skip to main content

Daily Chart Report ? Thursday, January 14th, 2021

January 14, 2021

Sponsored By:

Today’s Summary
Thursday, January 14th, 2021

Indices: US Stocks closed mostly lower in today’s session. The Dow Jones Industrial Average slipped 69 points or 0.22%. The S&P 500 and Nasdaq fell 0.38% and 0.12%, respectively. The Russell 2000 outperformed significantly gaining 2.05%.

Sectors: 4 of the 11 sectors closed higher. Energy led, rising 2.96%. Tech lagged, falling 0.88%.

Commodities: Crude Oil futures moved higher by 1.25% to $53.57 per barrel. Gold futures slipped 0.19% to $1,851 per ounce.

Currencies: The US Dollar Index inched lower by 0.12%.

Interest Rates: The 10-year US Treasury yield rose to 1.131%.

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 Louis Sykes (@haumicharts). It’s a chart of the second-largest Cryptocurrency, Ethereum, over the past five years (ETH/USD). Louis points out that Ethereum is testing its former highs around $1,200-$1,400. If you’ve been following the Cryptocurrency space, you’ll recognize that this setup looks very similar to how Bitcoin looked a month ago. Price is attempting to break out of a  multi-year base within a primary uptrend. This is still a crucial level to clear. But if we do break out to all-time highs in the next few weeks, things could get really interesting. With Bitcoin up more than 100% in the past month, it’s easy to say the Crypto space is overextended. But to Louis’ point, what if the party in the Crypto space is just getting started?

Sponsored:

$BNKU and $BNKD, the 3x leverage & -3x inverse leverage Big Banks ETNs were created to provide targeted access for sophisticated traders.

Quote of the Day

“The world is changed by your example, not by your opinion.”

– Paulo Coelho

Top Links

Heavily Shorted Stocks Stand Tall in 2021 – Bespoke
Bespoke points out that stocks with high short interest have continued to squeeze recently.

Podcast w/ Ryan Detrick and Eddy Elfenbein – Seeking Alpha
In this podcast, Ryan Detrick and Eddy Elfenbein weigh-in on the current market environment.

US Dollar Collapse, Crude Oil Skyrocket About to Happen? – Kimble Charting Solutions
Chris Kimble takes a look at the relationship between Crude Oil and the US Dollar.

Ed Clissold Examines Growth Vs. Value – TD Ameritrade Network
Ed Clissold shares his thoughts on Growth vs. Value.

A Relative Report – Jotting on Charts
Grant Hawkridge highlights some important ratio charts to keep an eye on.

Top Tweets

A widening yield curve has been bullish for small-caps vs large-caps. So far in 2021, small-caps have picked up where they left off in Q4. 4/5 pic.twitter.com/IAmu7XWax5

— Ed Clissold (@edclissold) January 14, 2021

You’re all caught up now. Thanks for reading!