Daily Chart Report ? Thursday, June 24th, 2021
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Today’s Summary
Thursday, June 24th, 2021
Indices: US Stocks closed higher in today’s session, with the Dow advancing 323 points or 0.95%. The S&P 500 and Nasdaq both closed at record highs, rising 0.58% and 0.69% respectively. The Russell 2000 outperformed, gaining 1.31%.
Sectors: 9 of the 11 sectors closed higher. Financials led, rising 1.25%. Real Estate lagged, falling 0.47%.
Commodities: Crude Oil futures rose 0.30% to $73.30 per barrel. Gold futures fell 0.38% to $1,777 per ounce.
Currencies: The US Dollar Index was flat (0.03%).
Interest Rates: The 10-year US Treasury yield ticked higher to 1.495%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by @J4_doji. It’s a chart of Amazon over the past two years ($AMZN). Amazon is currently at a make-or-break level, around $3,500. The stock peaked last September and has been rangebound ever since. Keep in mind this is the third-largest stock in the S&P 500 and the largest stock in the Consumer Discretionary sector. $3,500 has been a brick wall of resistance. Price has tested and failed at that level three times. Will the fourth time be the charm? If so, it has built a solid 10-month base to launch from.
Quote of the Day
“The biggest risk is not taking any risk.”
– Mark Zuckerberg
Top Links
Breadth Metrics are Not Confirming Price Strength – Potomac Fund Management
Dan Russo analyzes market breadth.
June Conference Call: 5 Key Takeaways – All Star Charts
The team at All Star Charts highlights five key points about the current market environment.
Looking Past The Indices Into Market Breadth – TD Ameritrade Network
In this clip, Willie Delwiche offers his perspective on market breadth.
Warning: The Dollar’s ‘Pain Trade’ is Higher – SentimenTrader
Jason Goepfert points out that hedge funds are extremely underexposed to the US Dollar.
Breakout For Emerging Markets ETF (EEM) Would Attract Buyers – Kimble Charting Solutions
Chris Kimble breaks down a monthly chart of the Emerging Markets ETF, $EEM.
Top Tweet
You’re all caught up now. Thanks for reading!