Daily Chart Report ? Monday, April 12th, 2021
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Today’s Summary
Monday, April 12th, 2021
Indices: US Stocks closed slightly lower to start the week. The Dow Jones Industrial Average inched lower by 55 points or 0.16%. The S&P 500 was flat (0.02%), while the Nasdaq slipped 0.36%. The Russell 2000 underperformed, falling 0.43%.
Sectors: 8 of the 11 sectors closed higher. Consumer Discretionary led, rising 0.64%. Energy lagged, falling 0.79%.
Commodities: Crude Oil futures rose 0.64% to $59.70 per barrel. Gold futures fell 0.70% to $1,733 per ounce.
Currencies: The US Dollar Index inched lower by 0.11%.
Interest Rates: The 10-year US Treasury yield moved slightly higher to 1.668%.
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 by Ryan Detrick of LPL Financial Research (@RyanDetrick). The S&P 500 marched higher throughout the first quarter, leaving the December lows untouched in the rearview mirror. Ryan highlights an interesting phenomenon known as the ‘The December Low Indicator.‘ This little-known phenomenon was first discovered in the 1970s by Forbes columnist, Lucien Hooper. As you can see from the table, returns have been quite strong when the S&P 500 fails to violate its December low during the first quarter. This has happened 35 times since 1950. The S&P 500 ended those years higher 94% of the time for a solid average gain of 18.4%.
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Quote of the Day
“Statistical thinking will one day be as necessary a qualification for efficient citizenship as the ability to read and write.”
– H.G. Wells
Top Links
Equity Sentiment Becomes A Bit Frothy – Andrew Thrasher
Andrew Thrasher points out that bullish sentiment is becoming a concern.
Checking in on the US Market Breadth – Jotting on Charts
Grant Hawkridge examines market breadth.
Big Tech is Back – Rieben Financial
Greg Rieben takes a look at the resurgence in Mega-Cap Tech.
Tech Mega-Caps Joined the Rally – Momentum Monday
In their weekly Momentum Monday video, Howard Lindzon and Ivanhoff highlight the hottest stocks, trends, and themes across the market.
A Canadian Perspective w/ Portfolio Manager David Cox – All Star Charts
In this podcast, JC Parets and David Cox discuss some of the bullish tailwinds for Canadian equities.