Daily Chart Report ? Wednesday, March 17th, 2021
Sponsored By:
Today’s Summary
Wednesday, March 17th, 2021
Indices: US Stocks closed higher in today’s session with the Dow Jones Industrial Average advancing 189 points or 0.58%. The S&P 500 and Nasdaq rose 0.29% and 0.40%, respectively. The Russell 2000 outperformed, gaining 0.73%.
Sectors: 6 of the 11 sectors closed higher. Consumer Discretionary led, gaining 1.39%. Utilities lagged, falling 1.63%.
Commodities: Crude Oil futures slipped 0.56% to $64.44 per barrel. Gold futures rose 0.76% to $1,744 per ounce.
Currencies: The US Dollar Index dropped 0.53%.
Interest Rates: The 10-year US Treasury yield rose to 1.646%.
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 Yuriy Matso (@yuriymatso). It’s a one-hour candlestick chart of the Nasdaq 100 futures over the past two months. Nasdaq futures are testing a well-defined short-term resistance level around 13250. As you can see, price has failed at this level three times over the past month. Yuriy points out that this level coincides with the 61.8% Fibonacci retracement of the Feb-March decline. Will the fourth time be the charm? Or, do we fail again here and continue lower? Either way, we’ll likely know very soon, so pay attention to how price behaves around that 13250 level in the near-term.
Sponsored:
Quote of the Day
“The more objective we are, the more accurate our beliefs become. And the person who wins bets over the long run is the one with the more accurate beliefs.”
– Annie Duke
Top Links
The Bull Market Is About To Turn One – LPL Financial Research
The team at LPL Financial Research checks in on the new bull market as it approaches its first birthday.
March Conference Call: 5 Key Takeaways – All Star Charts
Ian Cully highlights five of the most important technical developments to keep an eye on this month.
Keeping It Simple – StockCharts.com
Carl Swenlin weighs-in on some of the negative divergences forming on the S&P 500.
What’s Scaring Investors Right Now – SentimenTrader
Jason Goepfert examines the relationship between the VIX and the 10-year yield.
Reversal Of Fortune? Banking Index Testing 14-Year Breakout Level – Kimble Charting Solution
Chris Kimble takes a look at an important test going on in the Bank Index, $BKX.
Top Tweets
