Daily Chart Report ? Wednesday, April 28th, 2021
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Today’s Summary
Wednesday, April 28th, 2021
Indices: US stocks closed slightly lower in today's session with the Dow Jones Industrial Average falling 165 points or 0.48%. The S&P 500 was flat (0.08%), while the Nasdaq slipped 0.28%. The Russell 2000 outperformed, inching up just 0.13%.
Sectors: 5 of the 11 sectors closed higher. Energy led by a wide margin, gaining 3.45%. Tech lagged, falling 0.93%.
Commodities: Crude Oil futures rose 1.46% to $63.86 per barrel. Gold futures slipped 0.28% to $1,774 per ounce.
Currencies: The US Dollar Index dropped 0.32%.
Interest Rates: The 10-year US Treasury inched lower to 1.615%.
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 John Kicklighter (@JohnKicklighter). It's a chart of the S&P 500 over the past 3.5 years, along with a short-term volatility indicator below (3-day Average True Range). This week has been a snoozefest for stocks, with the S&P 500 virtually unchanged since Friday's close (+0.07%). John points out that the 3-day Average True Range is the lowest it's been in over a year. For investors, this calm environment is a breath of fresh air considering how turbulent the past year has been. For traders, this lack of volatility is not ideal. We'll likely see range expansion soon as the market digests the slew of earnings data that will be hitting the tape over the next couple of weeks.
Quote of the Day
"Heads I win, tails I don’t lose much."
– Mohnish Pabrai
Top Links
Putting "Sell in May and Go Away" Under the Microscope - Schaeffer's Investment Research
Rocky White drops some fascinating stats relating to "Sell in May & Go Away".
Todd Sohn's Stocks To Watch: AMZN, CWH, FDX - TD Ameritrade Network
Todd Sohn of Strategas Research offers his perspective on the markets and highlights a few stocks worth watching.
A Big Breakout in a Key Industry - Potomac Fund Management
Dan Russo points out that the Air Freight & Logistics index just broke out to an all-time high.
Bullish or Bearish: Is This Time Different? - All Star Charts
JC Parets shares his thoughts on the current market environment.
Everyone Needs to Get Paid - StockCharts.com
Greg Schnell takes a look at some attractive chart setups in the Payments industry including, $V, $MA, $SQ, and $PYPL.
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The four themes will encompass US equity markets as well as key global indices, Digital and Fiat currencies, Treasury yields and rates as they impact other asset classes, and the Commodities space. Expect to leave with cutting-edge tools, trading strategies, and actionable insights to improve your investment decisions.
Top Tweets
You’re all caught up now. Thanks for reading!