Daily Chart Report ? Tuesday, June 1st, 2021
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Today’s Summary
Tuesday, June 1st, 2021
Indices: US Stocks were little changed to start the week. The Dow inched higher by 46 points or 0.13%. The S&P 500 and Nasdaq both closed flat (0.05% and 0.09%). The Russell 2000 notably outperformed, rising 1.14%.
Sectors: 6 of the 11 sectors closed higher. Energy led by a wide margin, gaining 3.85%. Health Care lagged, falling 1.64%.
Commodities: Crude Oil futures rose 2.11% to a new 52-wk high of $67.72 per barrel. Gold futures were unchanged and continue to trade at $1,905 per ounce.
Currencies: The US Dollar Index inched higher by 0.10%.
Interest Rates: The 10-year US Treasury yield rose to 1.610%.
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 Nautilus Research (@NautilusCap). The S&P 500 finished May up 11.93% year-to-date. Nautilus points out that the rest of the year tends to be consistently strong when the S&P 500 is up between 10%–15% year-to-date through May. In fact, of the 10 prior instances since 1950, all 10 continued higher the rest of the year for an average gain of 11.49%. To be fair, the average returns over the next 1-3 months are nothing impressive. Which makes sense considering seasonality remains a headwind until October. But if history is any guide, the momentum we’ve seen thus far in 2021 could propel the S&P higher by year-end.
Quote of the Day
“Beautiful sunsets need cloudy skies.”
– Paul Coelho
Top Links
Crude Oil Cleared For Blast Off On This Dual Breakout? – Kimble Charting Solutions
Chris Kimble breaks down a long-term chart of Crude Oil.
Home on the Range – The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss some of the major trends and themes across the markets.
After 4 Up Weeks, Gold At Crucial Juncture – Pause Likely Before $1,920s Get Taken Out – Hedgopia
Hedgopia analyzes the outlook for Gold futures.
What Monthly Charts are Telling Crypto Investors – All Star Charts
Louis Sykes examines some noteworthy monthly candlestick charts in the Crypto space.
Meme Stocks Back in Focus – Bespoke
Bespoke takes a look at the wild action in GameStop ($GME), and AMC Entertainment ($AMC).
Top Tweets
You’re all caught up now. Thanks for reading!