Daily Chart Report ? Friday, April 23rd, 2021
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Today’s Summary
Friday, April 23rd, 2021
Indices: US stocks ended the week on a positive note with the Dow Jones Industrial Average advancing 228 points or 0.67%. The S&P 500 and Nasdaq rose 1.09% and 1.44%, respectively. The Russell 2000 outperformed, gaining 1.76%.
Sectors: 9 of the 11 sectors closed higher. Financials led, gaining 1.87%. Consumer Staples lagged, slipping 0.26%.
Commodities: Crude Oil futures moved higher by 1.16% to $62.14 per barrel. Gold futures inched lower by 0.24% to $1,778 per ounce.
Currencies: The US Dollar Index fell 0.49%.
Interest Rates: The 10-year US Treasury rose to 1.563%.
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 Michael Turvey (@MikeTurkey_TDA). It’s a weekly candlestick chart of the S&P 500 over the past year and a half. It was a choppy week for the S&P 500, but the index ultimately closed flat on the week (0.16%). This sort of pause should come as no surprise considering price is at a major Fibonacci level. Excessive optimism continues to be a near-term risk and seasonal headwinds are around the corner. But trumping all these bearish concerns is the fact that the trend remains unequivocally higher.
Quote of the Day
“Adapt what is useful, reject what is useless, and add what is specifically your own.”
– Bruce Lee
Top Links
A Major Update on Markets - Macro Charts
Macro Charts gives an in-depth analysis of the current market environment.
Ari Wald Assesses The Current Bull Market Cycle - TD Ameritrade
Ari Wald weighs in on stocks and interest rates.
Bitcoin's Free-Fall Below $50,000 Has it Testing a New Technical Threshold That Could Signal Even More Weakness Ahead - Business Insider
Katie Stockton offers her technical perspective on Bitcoin.
Stock Market Video Analysis 4/23/21 - AlphaTrends.Net
Brian Shannon reviews this week's price action and lays out some levels to keep an eye on next week.
Chart Summit 2021 Videos
In case you missed last week's Chart Summit, here is a replay of each presentation.
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