Daily Chart Report ? Thursday, March 25th, 2021
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Today’s Summary
Thursday, March 25th, 2021
Indices: US Stocks closed higher in today's session with the Dow Jones Industrial Average advancing 199 points or 0.62%. The S&P 500 and Nasdaq rose 0.52% and 0.12%, respectively. The Russell 2000 outperformed gaining 2.29%.
Sectors: 9 of the 11 sectors closed higher. Financials led, gaining 1.68%. Communications lagged, falling 0.49%.
Commodities: Crude Oil futures dropped 4.28% to $58.56 per barrel. Gold futures fell 0.47% to $1,725 per ounce.
Currencies: The US Dollar Index rose 0.35%.
Interest Rates: The 10-year US Treasury yield moved higher to 1.635%.
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 daily candlestick chart of the S&P 500 over the past three years. The S&P 500 has formed a potential Bull Trap or Failed Breakout as it's also referred to. This occurs when price breaks out but fails to hold above the breakout level, often leading to a sharp move in the opposite direction. As you can see, the last two major declines started with Failed Breakouts. The good news is that price has not confirmed this bearish pattern yet, so it's still too early to act on. However, if price closes below 3,700 in the near-term, watch out below!
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Quote of the Day
“In bear markets, stocks usually open strong and close weak. In bull markets, they tend to open weak and close strong.”
– William O'Neil
Top Links
Bullish Sentiment Back Above 50% But Is That A Good Thing? - Bespoke
Bespoke analyzes the results of the latest AAII Sentiment Survey.
When In Doubt, Get Smaller - All Star Charts
JC Parets weighs-in on the recent choppiness in the market.
Oil - Buy The Dip? Or Sell The Rip? - Rieben Financial
Greg Rieben shares his thoughts on Crude Oil and more.
Out On A Limb: Market Top is Comming! - StockCharts.com
In this video, Larry Williams shares some of his favorite technical tools and explains why he thinks the market is due for a decline.
China Stocks Sending Troubling Message To The World - Kimble Charting Solutions
Chris Kimble examines a long-term chart of the China ETF, $FXI.
Top Tweets
