Daily Chart Report ? Tuesday, June 15th, 2021
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Today’s Summary
Tuesday, June 15th, 2021
Indices: US Stocks closed lower in today's session with the Dow slipping 94 points or 0.27%. The S&P 500 and Nasdaq fell 0.20% and 0.71%, respectively. The Russell 2000 moved lower by 0.26%.
Sectors: 5 of the 11 sectors closed higher. Energy led, rising 1.90%. Real Estate lagged, falling 0.92%.
Commodities: Crude Oil futures moved higher by 1.75% to $72.12 per barrel. Gold futures fell 0.51% to $1,856 per ounce.
Currencies: The US Dollar Index was flat.
Interest Rates: The 10-year US Treasury yield ticked lower to 1.494%.
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 David Rath (@DJwrath). It's a daily candlestick chart of Copper futures since the start of the pandemic. Copper has been on an incredible run for more than a year now. But that relentless rally is in jeopardy. As David notes, Copper decisively broke below its uptrend line in today's session. So, why do we care that this metal is breaking down? Due to Copper's numerous industrial uses, it is often viewed as a leading indicator for economic growth and the stock market. Seeing it break down like this, doesn't exactly inspire confidence in the bull case.
Quote of the Day
“If you can't take a small loss, sooner or later you will take the mother of all losses."
– Ed Seykota
Top Links
"Reflation" Trade Under Pressure - Potomac Fund Management
Dan Russo examines the strongest and weakest areas of the market.
CBOE SKEW Index All-Times Highs Points to Volatility - See It Market
Mark Newton points out that the SKEW Index just hit an all-time high.
Timber! - Bespoke
Bespoke take a look at the crash in Lumber prices.
My Favorite Swing Trade Setup - AlphaTrends.net
Brian Shannon gives a tutorial on his trading process.
One Corner of Health Care Could Lead Nasdaq’s Next Record Rally, Oppenheimer Analyst Predicts - CNBC
In this clip, Ari Wald of Oppenheimer shares his thoughts on Biotech stocks.
Top Tweets
You’re all caught up now. Thanks for reading!