Daily Chart Report ? Friday, May 21st, 2021
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Today’s Summary
Friday, May 21st, 2021
Indices: US Stocks were mixed in today's session. The Dow rose 124 points or 0.36%. The S&P 500 closed flat (0.08%), while the Nasdaq slipped 0.48%. The Russell 2000 moved higher by 0.34%.
Sectors: 7 of the 11 sectors closed higher. Financials led, rising 0.99%. Tech lagged, falling 0.55%.
Commodities: Crude Oil futures moved higher by 2.65% to $61.94 per barrel. Gold slipped 0.28% to $1,877 per ounce.
Currencies: The US Dollar Index gained 0.31%.
Interest Rates: The 10-year US Treasury fell to 1.620%.
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 Greg Krupinski (@G_krupins). It's a chart of the Junior Silver Miners ETF, $SILJ, over the past three years. The top holdings in this ETF include Pan American Silver Corp. ($PAAS), Hecla Mining Company ($HL), and First Majestic Silver Corp. ($FR). Precious Metals are starting to look more attractive recently, as they've begun to outperform stocks and other assets. Greg points out that $SILJ just booked its highest weekly close in nearly five years. It tripled off the March 2020 low, before entering into a consolidation period for the majority of the past year. We're now breaking out of a 10-month base within an uptrend, suggesting price could move meaningfully higher in the coming weeks/months.
Quote of the Day
“Gratitude is a powerful catalyst for happiness. It’s the spark that lights a fire of joy in your soul.”
– Amy Collette
Top Links
Weekly Market Performance – Markets Resilient Amid Inflation - LPL Financial Research
The team at LPL Financial Research highlights some key takeaways from this week's price action.
Copper Price Reversal Could Send Negative Message To U.S. Economy - Kimble Charting Solutions
Chris Kimble points out that a potential reversal in Copper prices could spell trouble.
We're Seeing A Bullish Reversal In Oversold Stocks: Fairlead's Katie Stockton - BNN Bloomberg
In this clip, Katie Stockton offers her technical perspective on Growth vs. Value, Gold Miners, and more.
Stock Market & Bitcoin Analysis for Week Ending May 21st, 2021 - AlphaTrends
Brian Shannon reviews this week's price action in Crypto and Stocks.
Post-Election Year June: Third Worst S&P 500 Month - Almanac Trader
Seasonality expert, Jeff Hirsch examines how Stocks have historically fared in June of Post-Election years.
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