Daily Chart Report ? Tuesday, April 13th, 2021
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Today’s Summary
Tuesday, April 13th, 2021
Indices: US Indices were mixed in today's session. The Dow Jones Industrial Average inched lower by 68 points or 0.20%. The S&P 500 and Nasdaq gained 0.33% and 1.05%, respectively. The Russell 2000 underperformed, falling 0.22%.
Sectors: 7 of the 11 sectors closed higher. Utilities led, rising 1.19%. Financials lagged, falling 0.93%.
Commodities: Crude Oil futures moved higher by 0.80% to $60.18 per barrel. Gold futures rose 0.86% to $1,748 per ounce.
Currencies: The US Dollar Index fell 0.28%.
Interest Rates: The 10-year US Treasury yield dropped to 1.616%.
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 Liz Ann Sonders (@LizAnnSonders). The chart shows the US 10-year Treasury yield in blue, over the past three years with two closely watched ratios below. A few weeks ago, we discussed why yields were probably due for some pause, and that's pretty much what we've seen play out since then. Liz Ann points out that while yields have moved sideways in recent weeks, the Nasdaq has begun to outperform the Russell 2000, and Growth has begun to outperform Value. Looking at this chart, it's pretty clear that the action in yields has been driving these relative trends in the stock market. If yields continue to stabilize or turn lower, it would likely be a favorable environment for Growth-oriented areas of the market like the Nasdaq.
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Quote of the Day
"In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten"
– Peter Lynch
Top Links
"How Much Was the Market Up Today?" - Bespoke
Bespoke points out that both $SPY and $QQQ have closed higher than the open for 13 consecutive days now.
Semiconductor Red Hot Performance Tests 20-Year Breakout Level - Kimble Charting Solutions
Chris Kimble shows that the Semiconductor Index, $SOX, is testing a key long-term Fibonacci level.
Looking for Clear Sector Leadership - Potomac Fund Management
Dan Russo identifies the strongest/weakest sectors of the S&P 500.
Is There Seasonality in the Bond Market? - LPL Financial Research
The team at LPL Financial Research examines seasonal patterns in the fixed income markets.
A Decisive Breakout in Bitcoin Has it Set Up For a Further 10% Gain in the Near Term, According to One Technical Analyst - Business Insider
Katie Stockton offers her technical outlook on Bitcoin.