Daily Chart Report ? Tuesday, February 9th, 2021
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Today’s Summary
Tuesday, February 9th, 2021
Indices: US Stocks were little changed in today's session. The Dow was basically flat (9 points or 0.03%). The S&P 500 slipped just 0.11%. The Nasdaq inched higher by 0.14%. The Russell 2000 outperformed, gaining 0.40%.
Sectors: 6 of the 11 sectors closed higher. Real Estate led, rising 0.45%. Energy lagged, falling 1.06%.
Commodities: Crude Oil futures moved higher for the seventh consecutive day, gaining 0.67% to $58.36 per barrel. Gold futures inched up 0.18% to $1,838 per ounce.
Currencies: The US Dollar Index dropped 0.53%.
Interest Rates: The 10-year US Treasury yield moved lower to 1.160%.
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). Pot stocks have been smokin' hot lately. The largest Marijuana ETF, $MJ, is up more than 100% since the start of the year. Steve points out that Aphria ($APHA), the largest component within $MJ, is breaking out of a multi-year base. In a comment to The Chart Report, Steve said, "Pot stocks have been garbage for years, but this newfound momentum suggests that a meaningful bottom could be in. When we drilled down into the industry, we found that the Growers & Distributors in particular, like $APHA, are breaking out to new highs and look poised to outperform. Not only does this show risk appetite for the broader market, but also risk appetite within the Marijuana industry. You know we're in a bull market if Pot stocks are ripping to new highs." For a deeper dive into this topic, check out this chart.
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Quote of the Day
"An expert is someone who knows some of the worst mistakes in a subject and how to avoid them."
– Werner Heisenberg
Top Links
Rabid For Small Caps - Bespoke
Bespoke takes a look at the continued surge in Small-Cap stocks.
The Lucid Motors Report - The Rotation Report
Aaron Jackson offers his thoughts on the current market environment and shares some attractive chart setups.
Smoke 'Em If You Got 'Em - All Star Charts
JC Parets shares one of his favorite setups in the Cannabis space - Cresco Labs - $CRLBF.
From Tiny Bubbles to Frothy McBubbles - Howard Lindzon
Howard Lindzon weighs-in on the signs of froth across the markets.
Bitcoin Pizza Money Today Worth $470 Million - Decrypt
In honor of National Pizza Day, here's a funny story about a guy who paid 10,000 Bitcoin for two pizzas from Papa Johns in 2010. Those coins would've been worth about $470 million today.
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