Daily Chart Report ? Friday, May 14th, 2021
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Today’s Summary
Friday, May 14th, 2021
Indices: US Stocks ended the week on a positive note, with the Dow gaining 361 points or 1.06%. The S&P 500 and Nasdaq closed higher by 1.49% and 2.32%, respectively. The Russell 2000 outperformed, gaining 2.47%.
Sectors: All 11 sectors closed higher. Energy led, gaining 3.10%. Consumer Staples lagged but still rose 0.44%.
Commodities: Crude Oil futures moved higher by 2.43% to $65.37 per barrel. Gold futures rose 0.77% to $1,838 per ounce.
Currencies: The US Dollar Index fell 0.46%.
Interest Rates: The 10-year US Treasury fell to 1.630%.
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 Doug Busch (@chartsmarter). It's a weekly candlestick chart of Newmont Corporation, $NEM, over the past two years. Newmont is the largest stock in the popular Gold Mining ETF, $GDX, which has continued to push higher and outperform in recent weeks. $NEM just notched its highest daily close since 2011, and its highest weekly close since 1987. In other words, this stock is breaking out across multiple time frames. In a comment to The Chart Report, Doug said, "$NEM has formed a massive base over the past decade, and a smaller one within the past 10-months. Gold Mining Stocks have been showing some nice relative strength lately. They were resilient while the rest of the market pulled back this week. $NEM is particularly attractive here as long as it stays above that ~$68 level."
Quote of the Day
"Learn how to see. Realize that everything connects to everything else."
– Leonardo da Vinci
Top Links
Gold Names Firm Up to 3-Month Highs - StockCharts
Greg Schnell takes a look at Gold Mining Stocks.
Stock Market & Bitcoin Analysis Friday, May 14, 2021 - AlphaTrends
Brian Shannon reviews this week's price action and lays out some levels to focus on next week.
Nasdaq to S&P 500 Index Ratio Undergoing Important Test! - Kimble Charting Solutions
Chris Kimble breaks down a ratio chart of the Nasdaq vs. the S&P 500.
Where Do We (Investors) Stand? - David Cox
In this quick video, David Cox highlights some noteworthy technical developments on his radar.
Crypto Current - Technical Analysis & Cryptocurrencies - All Star Charts
JC Parets and Julie Alexandria discuss the trends in the Crypto markets.
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