Daily Chart Report ? Tuesday, January 19th, 2021
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Today’s Summary
Tuesday, January 19th, 2021
Indices: US Stocks kicked off the week on a positive note with the Dow Jones Industrial Average gaining 116 points or 0.38%. The S&P 500 and Nasdaq rose 0.81% and 1.53%, respectively. The Russell 2000 closed higher by 1.32%.
Sectors: 8 of the 11 sectors closed higher. Energy led, gaining 2.01%. Real Estate lagged, falling 0.66%.
Commodities: Crude Oil futures moved higher by 1.69% to $53.03 per barrel. Gold futures inched higher by 0.14% to $1,839 per ounce.
Currencies: The US Dollar Index fell 0.30%.
Interest Rates: The 10-year US Treasury yield inched higher to 1.090%.
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 David Keller (@DKellerCMT). It's a chart of the S&P 500 over the past year, along with four different cumulative advance-decline lines. These breadth indicators often lead the broader market higher/lower. They'll often form some sort of bearish divergence before a meaningful top in S&P 500. But as David points out, we're not seeing any such divergence right now. Instead, these advance-decline lines are continuing to make higher highs and higher lows along with the S&P 500. In other words, they're confirming the trend higher. Until that changes, why fight the trend?
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Quote of the Day
“Race cars are neither beautiful nor ugly. They become beautiful when they win.”
– Enzo Ferrari
Top Links
Selling the U.S. and Buying China?? - All Star Charts
JC Parets explains why he thinks Chinese Tech Stocks are poised to outperform.
Stock Picker's Market - Momentum Monday
In their weekly Momentum Monday video, Howard Lindzon, and Ivanhoff highlight the strongest stocks, trends, and themes across the markets.
A Rising Tide... - Cully Charts
Ian Cully shares his thoughts on Growth vs. Value.
Strong Trends & A Revisit to March 2020 - The Weekly Trend
In this podcast, Ian McMillan discusses some of the most noteworthy technical developments on his radar.
Macro Monday - Jotting on Charts
Grant Hawkridge offers an in-depth macro analysis.
Top Tweets
The further down the cap-scale we go, the steeper the ascent becomes. $SPY, $MDY, $SLY pic.twitter.com/H1HfS0gmxZ
— Ian Culley (@IanCulley) January 19, 2021
You’re all caught up now. Thanks for reading!