Daily Chart Report ? Wednesday, April 14th, 2021
Sponsored By:
Today’s Summary
Wednesday, April 14th, 2021
Indices: US stocks were mixed in today’s session. The Dow Jones Industrial Average inched higher by 54 points or 0.16%. The S&P 500 and Nasdaq fell 0.41% and 0.99%. The Russell 2000 outperformed, gaining 0.84%.
Sectors: 5 of the 11 sectors closed higher. Energy led, rising 2.78%. Tech lagged, falling 1.06%.
Commodities: Crude Oil futures gained 4.94% to $63.15 per barrel. Gold futures fell 0.65% to $1,736 per ounce.
Currencies: The US Dollar Index slipped 0.21%.
Interest Rates: The 10-year US Treasury yield rose to 1.639%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by David Keller (@DKellerCMT). It’s a chart of the Volatility Index ($VIX) over the past two decades. Volatility has continued to calm down in recent weeks, with the VIX currently trading around 17. David points out that the VIX is pretty low right now compared to where it has been in the past year. On the other hand, it’s still fairly high relative to where it has been in the past decade. Of course, we’re coming off a pretty historic year for volatility. If you remember, last year the VIX spiked its highest level since 2008 and then spent the rest of the year refusing to fall below 20. But there have also been years like 2017, where the VIX never once closed above 17. At the end of the day, volatility is in the eye of the beholder!
Sponsored:
Join us this Saturday, April 17th for the 5th Annual Chart Summit!
You’ll have the chance to hear from an elite group of professional technicians as they reveal their market insights and offer professional-level strategies you can use to control risk and increase profitability in today’s market.
It’s fast-paced, action-packed, and completely FREE to attend!
More than 15 speakers are scheduled to deliver fast and informative 25-minute livestream presentations. We will announce the full speaker list shortly — sign up now and check back for the full agenda!
Quote of the Day
“Become more humble as the market goes your way.”
– Bernard Baruch
Top Links
Four Reasons The Future Looks Bright For the Bulls – LPL Financial Research
The team at LPL Financial Research lays out four reasons to embrace this bull market.
Bitcoin in 2017 vs. Now – Bespoke
Bespoke compares the current crypto bull market to the past one.
Willie Delwiche Breaks Down Market Breadth – TD Ameritrade Network
In this clip, Willie Delwiche offers his thoughts on market breadth.
The S&P 500 Reaches Overbought Levels – Potomac Fund Management
Dan Russo shares some key takeaways from the current market environment.
Breaking Through The Glass – All Star Charts
Sean McLaughlin outlines an options trade on Owens Corning, $OC.