Daily Chart Report ? Tuesday, May 4th, 2021

Today’s Summary
Tuesday, May 4th, 2021

Indices: US indices closed lower in today’s session with the exception of the Dow, which managed to close positive by just 20 points or 0.06%. The S&P 500 fell 0.67%, while the Nasdaq dropped 1.88%. The Russell 2000 moved lower by 1.28%.

Sectors: 5 of the 11 sectors closed higher. Materials led, gaining 1.09%. Technology lagged, dropping 1.79%.

Commodities: Crude Oil futures moved higher by 1.86% to $65.69 per barrel. Gold futures fell 0.88% to $1,776 per ounce.

Currencies: The US Dollar Index rose 0.35%.

Interest Rates: The 10-year US Treasury slipped to 1.594%.

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 Seth Golden (@SethCL). It’s a chart of the Semiconductor ETF, $SMH, over the past year. This is a key industry group to watch in the near term. Semis have been in a solid uptrend since the March 2020 low. However, their impressive rally has stalled out in recent months. As you might know, Semiconductors are the chips that are found in virtually every electronic device from iPhones to dishwashers. Due to their widespread use, Semiconductor stocks often act as a leading indicator for both the technology sector and the broader market. Their leadership off the March 2020 low was reassuring to bulls as the market recovered last year, but this recent weakness does not exude confidence. As Seth points out, $SMH bounced off the 100-day moving average in the final minutes of today’s session. But overall, Semis continue to look vulnerable here, so keep an eye on how they behave in the remainder of the week.

Quote of the Day

“The greatest teacher, failure is.”

– Yoda