Daily Chart Report ? Thursday, January 21st, 2021
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Today’s Summary
Thursday, January 21st, 2021
Indices: US Stocks were mixed in today's session. The Dow and S&P 500 were both flat (changing 0.04% and 0.03%, respectively). The Nasdaq rose 0.55% to close at a record high. The Russell 2000 underperformed, falling 0.89%.
Sectors: 3 of the 11 sectors closed higher. Tech led, gaining 1.29%. Energy was the clear laggard, dropping 3.38%.
Commodities: Crude Oil futures slipped 0.34% to $53.13 per barrel. Gold futures were flat and continue to trade at $1,866 per ounce.
Currencies: The US Dollar Index fell 0.44%.
Interest Rates: The 10-year US Treasury yield rose to 1.109%.
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 Dan Russo (@DanRusso_CMT). It's a chart of $ACWX over the past five years. $ACWX is an ETF comprised of international stocks from developed and emerging markets, excluding US companies. International stocks have been catching up to US stocks recently and breaking out to record levels. Yesterday, the popular Emerging Markets ETF, $EEM, closed at an all-time high for the first time in over a decade. $ACWX is pushing all-time highs as well. Dan brings up home country bias, which I won't get into because it's pretty self-explanatory, but it's a real thing. This doesn't mean US Stocks have to go down, but they could underperform. With international stocks breaking out for the first time in years, perhaps now would be a good time to explore some of the opportunities outside the US.
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Quote of the Day
“When the weather changes, nobody believes the laws of physics have changed. Similarly, I don't believe that when the stock market goes into terrible gyrations its rules have changed.”
– Benoit Mandelbrot
Top Links
Markets That Are Definitely NOT In a Bubble - A Wealth of Common Sense
Here's a good read from Ben Carlson, in which he drops some knowledge on the bubble crowd.
FANMAG Stocks Poised to Breakout - See it Market
David Keller points out that Mega-Cap Tech stocks are breaking out.
The New Commodities Supercycle - All Star Charts
JC Parets explains why the bear market in Commodities could finally be over.
Moderating Sentiment - Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
Bet on These Record-Breaking Stocks to Rally Further, Oppenheimer Analyst Says - CNBC
Ari Wald of Oppenheimer shares some of his favorite stock picks.
