Daily Chart Report ? Tuesday, June 8th, 2021
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Today’s Summary
Tuesday, June 8th, 2021
Indices: US Stocks closed slightly higher in today's session. The Dow was more or less flat, inching lower by just 30 points or 0.09%. The S&P 500 was also flat (0.02%), while the Nasdaq rose 0.31%. The Russell 2000 clearly outperformed, gaining 1.06%.
Sectors: 6 of the 11 sectors closed higher. Energy led, gaining 0.86%. Utilities lagged, falling 0.85%.
Commodities: Crude Oil futures rose 1.18% to $70.05 per barrel - the highest level in nearly three years. Gold futures slipped 0.23% to $1,894 per ounce.
Currencies: The US Dollar Index rose 0.18%.
Interest Rates: The 10-year US Treasury yield fell to 1.535%.
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). Seth points out that July could bring a much-needed boost to the Nasdaq if recent history is any guide. The chart shows that the Nasdaq ETF, $QQQ, has closed higher in July every single year since 2008. CNBC’s Michael Santoli once described seasonality using this analogy – “seasonality is climate, not weather.” In other words, seasonality gives us an idea of the type of environment we can anticipate, but of course, anything can happen. For example, August is one of the most popular months to have a wedding in New York State. It’s usually a lovely time of year there, and you’ll likely have a picturesque sunny day. But, you can’t completely rule out the unlikely possibility of a hurricane or something terrible like that. Is it likely? No. Is it possible? According to Wikipedia, yes, it is possible.
Quote of the Day
"Seasonality is climate, not weather."
– Michael Santoli
Top Links
Andrew Thrasher's Market Outlook - TD Ameritrade Network
Andrew Thrasher offers his technical perspective on the Russell 2000 and the VIX.
Signs of Life in the Technology Sector - Potomac Fund Management
Dan Russo examines sector relative strength.
Will Government Bonds Continue to Sink Lower? - Kimble Charting Solutions
Chris Kimble breaks down a long-term chart of the popular US Treasury Bond ETF, $TLT.
Brazil Boils - Bespoke
Bespoke takes a look at the Breakout in Brazil ??.
Bitcoin Could Find Its Footing if it Holds the $34,000 Level, a Technical Analyst Says - Business Insider
Katie Stockton outlines some key levels on Bitcoin.
Top Tweets
You’re all caught up now. Thanks for reading!