Daily Chart Report ? Monday, March 29th, 2021
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Today’s Summary
Monday, March 29th, 2021
Indices: US Stocks kicked off the week on a mixed note. The Dow Jones Industrial Average was the only major index to close higher, rising 98 points or 0.30%. The S&P 500 was flat (0.09%), while the Nasdaq fell 0.60%. The Russell 2000 underperformed significantly, dropping 2.83%.
Sectors: 5 of the 11 sectors closed higher. Utilities led, gaining 1.07%. Energy lagged, falling 1.19%.
Commodities: Crude Oil futures moved higher by 0.97% to $61.56 per barrel. Gold futures dropped 1.16% to $1,712 per ounce.
Currencies: The US Dollar Index rose 0.19%.
Interest Rates: The 10-year US Treasury yield moved higher to 1.715%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Grant Hawkridge (@granthawkridge). It’s a chart of the US 10-year Treasury yield ETF ($TNX) over the past 12 years. The 10-year yield is extremely stretched above its 200-day moving average right now. Grant point’s out that similar instances over the past decade were followed by months of sideways price action. After a sharp move higher in recent months, it would make a lot of sense to see some pause and digestion around this former support level.
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Quote of the Day
“The world is a tragedy to those who feel, but a comedy to those who think.”
– Horace Walpole
Top Links
How Recessions Change the Winners in the Stock Market – A Wealth of Common Sense
Ben Carlson explains that it’s normal to see a change in leadership after a bear market.
Quality Growth – Murphy Charts
Shane Murphy makes the bull case for the quality growth stocks.
Old School – The Weekly Trend
In this podcast, David Zarling and Ian McMillan weigh-in on the rising US Dollar, Growth vs. Value, Chinese Stocks, and more.
A Conversation with Cathie Wood from ARK Invest – Renaissance Macro Research
Here’s a good conversation between Jeff deGraff and Cathie Wood in which they discuss her career and investment process.
Anything Can Happen – All Star Charts
JC Parets emphasizes the importance of risk management.
Top Tweets
