Daily Chart Report ? Monday, June 21st, 2021
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Today’s Summary
Monday, June 21st, 2021
Indices: US Stocks kicked off the week on a positive note, with the Dow rebounding 587 points or 1.76%. The S&P 500 and Nasdaq gained 1.40% and 0.79%, respectively. The Russell 2000 outperformed rising 2.16%.
Sectors: All 11 sectors closed higher. Energy led, gaining 3.21%. Consumer Staples lagged but still rose 0.49%.
Commodities: Crude Oil futures moved higher by 2.57% to the highest level in nearly three years at $73.12 per barrel. Gold futures bounced 0.79% to $1,783 per ounce.
Currencies: The US Dollar Index fell 0.52%.
Interest Rates: The 10-year US Treasury yield rose to 1.490%.
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 Julien Bittel (@BittelJulien). It’s a monthly candlestick chart of Crude Oil futures over the past 15 years. Crude Oil settled at its highest level in nearly three years today, around $73 per barrel. Julien points out that price has reached a key long-term level. We’re currently testing potential resistance from the 2018 highs, as well as trendline resistance that has been in place for over a decade. The Energy sector has been the clear leader so far this year. However, if Crude Oil reverses lower at this potential inflection point, we could see the Energy sector resign its leadership in the second half of the year.
Quote of the Day
“The most important decision you make is to be in a good mood.”
– Voltaire
Top Links
July Has Been a Top Month of Post-Election Years – Almanac Trader
Seasonality expert, Jeff Hirsch takes a look at how Stocks have historically fared in July of post-election years.
What Are Bonds Telling Us? – MurphyCharts
Shane Murphy examines what the Bond market and the yield curve could be telling us.
It Doesn’t Matter Until It Matters – The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss the major technical developments across the markets, including breadth deterioration, Growth vs. Value, the reversal in the US Dollar, and more.
Should Investors Buy Into the Growth and Tech Comeback This Month? – CNBC
Ari Wald of Oppenheimer offers his perspective on the rebound in Growth/Tech stocks.
Inner Game With Steve Cohen – Stray Reflections
Here’s a rare interview with the legendary hedge fund manager, Steve Cohen.
Top Tweets
You’re all caught up now. Thanks for reading!