Daily Chart Report ? Monday, March 1st, 2021
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Today’s Summary
Monday, March 1st, 2021
Indices: US Stocks kicked off the week/month on a positive note, with the Dow Jones Industrial Average rising 603 points or 1.95%. The S&P 500 had its best day in more than six months, gaining 2.38%. The Nasdaq jumped 3.01%. The Russell 2000 outperformed, climbing 3.23%.
Sectors: All 11 sectors closed higher. Technology led, gaining 3.22%. Real Estate lagged, but still inched higher by 0.11%.
Commodities: Crude Oil futures dropped 2.11% to $60.20 per barrel. Gold slipped 0.33% to $1,723 per ounce.
Currencies: The US Dollar Index rose 0.16%.
Interest Rates: The 10-year US Treasury yield inched higher to 1.424%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day comes from EquityClock.com. It’s a seasonal composite of the S&P 500 compiling data from the past 20-years. The S&P 500 has been positive in March 55% of the time over the past two decades for an average gain of 0.5%. The beginning of the month tends to start off weak, but things start to look-up in the back half of the month. In terms of rank, March has been the sixth-best month. While the sixth-best month is nothing impressive, the bulls can look forward to the fact that April has been the strongest month over the past two decades. As we know, the market doesn’t always follow its seasonal path. However, seasonality does provide some valuable context, and it’s something we want to keep in the back of our minds as we kick off the new month.
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Quote of the Day
“It’s not what you know that will make you a successful investor;
it’s what you do.”
– Liz Ann Sonders
Top Links
February Market Insights – Energy and Financials Fuel February’s Markets – LPL Financial Research
The team at LPL Financial Research outline some of the key takeaways from February’s price action.
Monthly Candlesticks – February 2021 – Alf Charts
Alfonso Depablos reviews some monthly candlestick charts.
Rotation Station – The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss the most significant technical developments on their radar.
A World of Financial Implications – All Star Charts
Steve Strazza takes a look at some potential trend changes brewing under the surface.
The Market is in a Pullback Mode – Momentum Monday
Howard Lindzon, Joe Fahmy, and Ivanhoff highlight some of the hottest stocks, trends, and themes across the market right now.
Top Tweets
