Daily Chart Report ? Monday, February 8th, 2021
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Today’s Summary
Monday, February 8th, 2021
Indices: US Stocks kicked off the week on a positive note, with the Dow Jones Industrial Average advancing 238 points or 0.76%. The S&P 500 closed higher for the sixth straight day, rising 0.74%. The Nasdaq gained 0.95%. The Russell 2000 notably outperformed, closing up 2.53%.
Sectors: 10 of the 11 sectors closed higher. Energy led significantly, gaining 4.18%. Utilities was the only sector to close lower, falling 0.77%.
Commodities: Crude Oil futures moved higher for the sixth consecutive day, gaining 1.97% to $57.97 per barrel. Gold futures rose 1.05% at $1,832 per ounce.
Currencies: The US Dollar Index inched lower by 0.09%.
Interest Rates: The 10-year US Treasury yield moved higher to 1.176%.
**Correction: In Friday’s Chart of the Day, we mistakenly said the S&P 500 closed at a record high every day last week. It did close higher every day last week, but not every day was a record high.**
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Pratty Tulsian (@PrattyCharts). It’s a daily candlestick chart of the largest Cryptocurrency, Bitcoin, over the past nine months ($BTCUSD). Bitcoin has more than doubled since it first broke above the 2017 highs less than two months ago. It printed a fresh all-time high today after spending the past month consolidating between $30k and $40k. As Pratty points out, Bitcoin’s continued strength is an encouraging development for the entire Crypto space. In a comment to The Chart Report, Pratty said, “Seeing all these bases resolving to the upside across Crypto land makes me think this is all just getting started and has me excited for the future of Investing, especially for the new generation of investors and traders.”
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Quote of the Day
“Learn every day, but especially from the experiences of others.
It’s cheaper!”
– Jack Bogle
Top Links
New Highs and Broad Participation to the Upside – Alf Charts
Alfonso Depablos shares some attractive chart setups.
Historical Advances – The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss some of the major technical developments going on right now.
Bitcoin’s Big Day – Bespoke
Bespoke takes a look at the recent strength in Bitcoin.
The Dip Was Bought Again – Momentum Monday
Howard Lindzon and Ivanhoff highlight the strongest stocks, trends and themes across the markets.
Shorts and Longs are NOT Enemies – The Compound
Here’s a good conversation between Josh Brown and Peter Bookvar about the important role that short-sellers play in a market.
Top Tweets
