Daily Chart Report ? Tuesday, February 16th, 2021
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Today’s Summary
Tuesday, February 16th, 2021
Indices: US Stocks closed slightly lower in today's session. The Dow Jones Industrial Average inched higher by 64 points or 0.20%. The S&P 500 was flat (0.06%), while the Nasdaq slipped 0.34%. The Russell 2000 underperformed, falling 0.72%.
Sectors: 3 of the 11 sectors closed higher. Energy led, gaining 2.51%. Utilities lagged, falling 1.12%.
Commodities: Crude Oil futures rose 0.98% to a new 52-week high of $60.05 per barrel. Gold futures dropped 1.33% to $1,799 per ounce.
Currencies: The US Dollar Index rose 0.14%.
Interest Rates: The 10-year US Treasury yield moved higher to 1.321%.
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 Brian (@alphacharts). Bitcoin hit $50,000 for the first time today! While this is an exciting milestone, there are some other bullish developments in the Crypto market that we want to focus on. The chart shows the alt-coin market cap over the past four years - so, basically all of the Cryptocurrencies excluding Bitcoin (ticker symbol: Total2 on TradingView). As Brian points out, the alt-coin market cap is just starting to break out of a three-year base. In a comment to The Chart Report, Brian said "Alts are just starting to break out, which tells me the recent Crypto Bull Market probably isn't over just yet. If anything, it looks like it's just starting to heat up. I think we could easily see a scenario where Crypto traders rotate their profits from Bitcoin down the Crypto cap-scale into some of the more speculative coins such as Ethereum, Cardano, Polkadot, Litecoin, etc."
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Quote of the Day
“History repeats because of the weakness of human nature.”
– William D. Gann
Top Links
NYSE Floor Talk with Jay Woods - NYSE
Jay Woods offers his thoughts on the current market environment.
The Same Trends Persist - Momentum Monday
Howard Lindzon, Ivanhoff, and Brian Lund discuss the hottest stocks, trends, and themes across the markets.
Willie Delwiche On What Rising Bond Yields Mean for Overall Market - TD Ameritrade Network
Willie Delwiche weighs-in on rising interest rates and what they mean for the broader market.
Enjoying the Scenery - The Weekly Trend
In this podcast, David Zarling and Ian McMillan highlight some of the most notable technical developments.
Osprey Bitcoin Trust Begins Trading as "OBTC" With Industry-Low Management Fee - Osprey
Check it out! - Osprey Funds just launched a cost-effective Bitcoin ETF under the ticker symbol OBTC.
Top Tweets
It's happening...New all-time highs $XLF pic.twitter.com/qKCpCupdmI
— R. Alfonso Depablos (@AlfCharts) February 16, 2021
The gap between 2-year and 10-year Treasury yields is the widest in almost four years. pic.twitter.com/uNHZPrGbso
— Lisa Abramowicz (@lisaabramowicz1) February 16, 2021
