Daily Chart Report ? Wednesday, January 20th, 2021

Today’s Summary
Wednesday, January 20th, 2021

Indices: US Stocks continued to rise in today's session, with all four major indices closing at an all-time high. The Dow Jones Industrial Average gained 258 points or 0.83%. The S&P 500 and Nasdaq moved higher by 1.39% and 1.97%, respectively. Small-Caps underperformed but still rose 0.44%.

Sectors: 10 of the 11 sectors closed higher. Communications led, gaining 3.14%. Financials lagged, falling 0.42%.

Commodities: Crude Oil futures rose 0.62% to $53.31 per barrel. Gold futures moved higher by 1.43% to $1,867 per ounce.

Currencies: The US Dollar Index inched lower by 0.07%.

Interest Rates: The 10-year US Treasury yield slipped to 1.085%.

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 Steve Strazza (@sstrazza). It's a custom index that Steve calls the MAGA Index. No, not that MAGA...we're talking about an equally weighted basket of the four largest companies in America; Microsoft, Apple, Google, and Amazon. These four stocks all have market-caps over $1-trillion. Combined, they account for over 30% of the Nasdaq and about 20% of the S&P 500. In a comment to The Chart Report, Steve said, "The recent strength in Small-Caps did a lot to help buoy the broader market over the past few months while Mega-Caps corrected. When these sleeping giants wake up, they tend to lift the major indices higher because of their weight. A potential rotation back into these former leaders could be the catalyst for the next leg higher. It may seem like a crime to leave out $FB and $NFLX, but I wanted to isolate the biggest of the big and you'd be surprised at how insignificant $FB and $NFLX are compared to the MAGA names. Why bet against the market when its largest components are just starting to break out like this?" 

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Quote of the Day

“The public is often right during the trends, but wrong at both ends.”

– Humphrey B. Neill