Daily Chart Report ? Wednesday, June 16th, 2021

Today’s Summary
Wednesday, June 16th, 2021

Indices: US Stocks closed lower in today's session with the Dow falling 266 points or 0.77%. The S&P 500 and Nasdaq slipped 0.54% and 0.24%, respectively. The Russell 2000 moved lower by 0.26%.

Sectors: Consumer Discretionary was the only sector to close positive, inching up just 0.05%. Utilities lagged, falling 1.50%.

Commodities: Crude Oil futures were unchanged at  $72.15 per barrel. Gold futures tumbled 2.56% to $1,813 per ounce.

Currencies: The US Dollar Index had its best day in more than a year, jumping 0.98%.

Interest Rates: The 10-year US Treasury yield rose to 1.577%.

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 Ian McMillan (@the_chart_life). It's a chart of the Dow Jones Industrial Average over the past year (bottom), and the % of Dow stocks above their 50-day moving averages (top). We're continuing to see breadth and momentum deteriorate beneath the surface of the market. Ian points out that while the Dow has drifted to new highs in recent weeks, fewer and fewer of its constituents have been able to keep up with their respective 50-day moving averages. This isn't just the case for the Dow, it's happening in the S&P 500 as well. If market internals don't improve soon, stocks could be due for some turbulence in the weeks ahead.

Quote of the Day

“When a long-term trend loses its momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.”

– George Soros