Daily Chart Report ? Friday, February 12th, 2021
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Today’s Summary
Friday, February 12th, 2021
Indices: US Stocks ended the week on a positive note, with the Dow, S&P, and Nasdaq all closing at all-time highs. The Dow inched higher by 28 points or 0.09%. The S&P 500 and Nasdaq gained 0.47% and 0.50%, respectively. The Russell 2000 rose 0.18%.
Sectors: 9 of the 11 sectors closed higher. Energy led, gaining 1.48%. Utilities lagged, falling 0.73%.
Commodities: Crude Oil futures moved higher by 2.11% to $59.47 per barrel. Gold futures slipped 0.20% to $1,823 per ounce.
Currencies: The US Dollar Index was flat (0.04%).
Interest Rates: The 10-year US Treasury yield moved higher to 1.215%.
**Reminder: The Stock Market and the Bond Market will both be closed on Monday, February 15th, in observance of Presidents' Day.**
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 Troy Bombardia (@bullmarketsco). It finally happened! The VIX closed below 20 for the first time in nearly a year! The VIX first gapped above 20 on Monday, February 24th, 2020, as the COVID crash began. It then spent the next 245 days elevated above 20. This was the longest streak above 20 since 2008 and the second-longest streak on record. As Troy points out, this scenario has historically led to further gains for the S&P 500 over the next 6-12 months. In a comment to The Chart Report, Troy said, "Volatility has been elevated for the past year. Many market participants have been nervous despite massive stock market gains. A decline in market volatility coupled with improving economic data could push stocks higher over the 6next 6-12 months, even if we first experience a pullback/correction."
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Quote of the Day
“Work hard, be kind, and amazing things will happen.”
– Conan O'Brien
Top Links
The Week Belonged to Energy and Emerging Markets - LPL Financial Research
The team at LPL Financial Research breaks down this week's performance.
Where Do We (Investors) Stand - David Cox
In this video, David Cox highlights some noteworthy technical developments.
Another Milestone for Market Internals - All Star Charts
Steve Strazza points out that breadth continues to give bullish signals.
Stock Market Video Analysis - AlphaTrends.Net
Brian Shannon recaps this week's price action and lays out some levels of interest to keep an eye on next week.
Presidents' Day Seasonality - Bespoke
Bespoke takes a look at how stocks have historically performed during the week of Presidents' Day.
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