Daily Chart Report ? Thursday, February 18th, 2021
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Today’s Summary
Thursday, February 18th, 2021
Indices: US Stocks closed lower in today's session with the Dow Jones Industrial Average slipping 120 points or 0.38%. The S&P 500 and Nasdaq fell 0.44% and 0.72%, respectively. The Russell 2000 underperformed, dropping 1.67%.
Sectors: 2 of the 11 sectors closed higher. Utilities led, rising 0.60%. Energy lagged, dropping 2.26%.
Commodities: Crude Oil futures fell 1.00% to $60.53 per barrel. Gold futures inched higher by 0.12% to $1,775 per ounce.
Currencies: The US Dollar Index dropped 0.43%.
Interest Rates: The 10-year US Treasury yield rose to 1.296%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Ryan Detrick (@RyanDetrick). The chart shows the Copper/Gold ratio in black, and the 10-year Treasury yield ($TNX) over the past 15-years. As Ryan points out, a rising Copper/Gold ratio is a sign of an improving economy and higher interest rates. Just take a look at how strongly correlated the Copper/Gold ratio has been to the 10-year Treasury yield over the years. If Copper continues to outperform Gold, expect interest rates to head north as well. For more on this relationship, check out this white paper.
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Quote of the Day
"Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes."
– Jesse Livermore
Top Links
What The VIX's Historical Move Means for Stocks - Schaeffer's Investment Research
Rocky White takes a look at what tends to happen after the VIX falls below 20.
We Have All Been There - Exchanging Thoughts
Ian McMillan shares some wise words regarding the GameStop debacle.
Small Changes in Sentiment - Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
The Worst Year for Bonds in History? - Compound
Charlie Bilello explains why this could be the worst year for Bonds.
February Conference Call: 5 Key Takeaways - All Star Charts
Steve Strazza highlights five important topics discussed in their monthly conference call.
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