Daily Chart Report ? Friday, April 30th, 2021
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Today’s Summary
Friday, April 30th, 2021
Indices: US Stocks ended the week on a sour note with the Dow Jones Industrial Average falling 186 points or 0.54%. The S&P 500 and Nasdaq closed lower by 0.72% and 0.85%, respectively. The Russell 2000 underperformed dropping 1.26%.
Sectors: 4 of the 11 sectors closed higher. Utilities led, rising 0.79%. Energy lagged, dropping 2.53%.
Commodities: Crude Oil futures moved lower by 2.20% to $63.58 per barrel. Gold futures were unchanged and continue to trade around $1,768 per ounce.
Currencies: The US Dollar Index gained 0.73%.
Interest Rates: The 10-year US Treasury inched lower to 1.635%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Drew Wells (@DrewTheCharts) It’s a ratio chart of the Consumer Staples sector vs. the S&P 500 over the past two decades. The largest stocks in the Consumer Staples sector include Procter & Gamble ($PG), Coca-Cola ($KO), PepsiCo ($PEP), Walmart ($WMT), and Costco ($COST). It’s considered one of the safest sectors in the S&P 500. The idea is that even in times of economic stress, consumers are going to continue buying the goods that these companies sell like toothpaste, toilet paper, soda, etc. When these stocks are outperforming the broader market it’s a bearish sign of risk aversion. But as Drew points out, Staples are breaking down on a relative basis to the lowest level in two decades, which is a bullish sign of risk appeitite.
Quote of the Day
“Make each day your masterpiece.”
– John Wooden
Top Links
Here Comes Sell in May – LPL Financial Research
The team at LPL Financial points out that the “worst six months” starts next week.
Semis Lose Their Shine – StockCharts.com
Art Hill examines the recent weakness in Semiconductor stocks.
Stock Market Analysis April 30th, 2021 – Brian Shannon
Brian Shannon analyzes this week’s price action and lays out some levels of interest to keep an eye on next week.
Was That it for Growth? – All Star Charts
Steve Strazza takes a look at Growth vs. Value.
Where Do We (Investors) Stand? – David Cox
In this quick video, David Cox highlights some noteworthy technical developments.
Top Tweets
You’re all caught up now. Thanks for reading!