Daily Chart Report ? Tuesday, January 26th, 2021
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Today’s Summary
Tuesday, January 26th, 2021
Indices: US Stocks closed slightly lower in today's session. The Dow and Nasdaq were virtually unchanged, with both slipping just 0.07%. The S&P 500 inched lower by 0.15%. The Russell 2000 underperformed, falling 0.62%.
Sectors: 4 of the 11 sectors closed higher. Communications led, gaining 1.36%. Energy lagged, dropping 2.14%.
Commodities: Crude Oil futures slipped 0.30% to $52.61 per barrel. Gold futures inched lower by 0.23% to $1,851 per ounce.
Currencies: The US Dollar Index slipped 0.24%.
Interest Rates: The 10-year US Treasury yield rose to 1.038%.
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 Renaissance Macro Research (@RenMacLLC). The red line shows the S&P 500's average performance during election and post-election years. Renaissance points out that stocks have historically stumbled between February and April of post-election years. Seasonality has been a nice tailwind for stocks since November, but that's no longer the case. The good news? The S&P 500 continues to be in a strong uptrend and the trend is far more important than seasonality. So, the bulls have that going for them. But, it's important to be aware that seasonality and the Presidential Election Cycle do not favor the bulls over the next couple of months.
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Quote of the Day
“Las Vegas is busy every day, so we know that not everyone is rational.”
– Charles Ellis
Top Links
A Very Big Picture Tour of the World - AlphaCharts
Brian at AlphaCharts highlights the big-picture trends by looking at some yearly candlestick charts.
Sector Rotation w/ Jonathan Krinsky, Chief Market Technician at Bay Crest Partners - Technical Analysis Radio
In this podcast, two respected technicians discuss the sector rotation going on in the market right now.
(Big) Tech is Back on Track - StockCharts.com
Julius de Kempenaer takes a look at the rotation back into Mega-Cap Tech.
Most Shorted Stocks Towering Over the Rest - Bespoke
Bespoke weighs-in on the historic short squeezes going on right now.
For Better or For Worse, This is a Young Person's Market Right Now - A Wealth of Common Sense
Here's a good read from Ben Carlson about the epic short squeeze going on in GameStop, $GME, this week.
Top Tweets
Under-asked question. Will $USD support restrain $EEM relative strength? pic.twitter.com/yx3YaYVJMf
— Mark Ungewitter (@mark_ungewitter) January 26, 2021
