Daily Chart Report ? Friday, February 5th, 2021
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Today’s Summary
Friday, February 5th, 2021
Indices: US Stocks closed the week on a positive note, with the Dow Jones Industrial Average advancing 92 points or 0.30%. The S&P 500 and Nasdaq rose 0.39% and 0.57%, respectively. The Russell 2000 outperformed, gaining 1.40%.
Sectors: 10 of the 11 sectors closed higher. Materials led, gaining 1.72%. Tech lagged, slipping 0.22%.
Commodities: Crude Oil futures moved higher for the fifth consecutive day, rising 1.08% to $57.07 per barrel. Gold futures rose 1.34% at $1,815 per ounce.
Currencies: The US Dollar Index dropped 0.57%.
Interest Rates: The 10-year US Treasury yield moved higher to 1.167%.
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 Bespoke (@bespokeinvest). What a week for the bulls! Bespoke points out that the S&P 500 just booked a ‘perfect week,’ meaning it closed at an all-time high every single day this week. Our friends at Pivot Analytics crunched the numbers (below) and found that returns following a ‘perfect week’ lean slightly bullish. This is more of just a fun stat rather than a tradeable insight. But we thought it really speaks to the relentless bid underlying this market. Clearly, there’s an overwhelming demand for stocks right now, and buyers are demonstrating that they’re willing to pay higher prices for them.
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Quote of the Day
“Remember, today is the tomorrow you worried about yesterday.”
– Dale Carnegie
Top Links
Fill The Gap Podcast w/ Louise Yamada – CMT Association
Here’s a good podcast from the CMT Association featuring special guest, Louise Yamada.
Where Do We (Investors) Stand? – David Cox
David Cox reviews some of the noteworthy technical developments from this past week.
This Is The Broadest and Strongest Market We’ve Seen in Decades: Technical Analyst – BNN Bloomberg
In this clip, Todd Sohn of Strategas Research shares his thoughts on the current market environment.
Stock Market Video Analysis for Week Ending 2/5/21 – AlphaTrends.net
Brian Shannon analyzes this week’s price action and lays out some key levels to keep an eye on next week.
US Dollar Continues Higher – StockCharts
Greg Schnell takes a look at the US Dollar.
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