Daily Chart Report ? Friday, July 2nd, 2021
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Today’s Summary
Friday, July 2nd, 2021
Indices: Stocks closed at record highs for the 4th of July!…with the exception of Small-Caps. The Dow rose 153 points or 0.44%. The S&P 500 closed at a record high for the seventh straight day, gaining 0.75%. The Nasdaq also closed at a record high, rising 0.81%. The Russell 2000 underperformed by a wide margin, falling 1.01%.
Sectors: 9 of the 11 sectors closed higher. Tech led, gaining 1.32%. Energy lagged, slipping 0.22%.
Commodities: Crude Oil futures were flat and continue to trade around $75.19 per barrel. Gold futures moved higher by 0.61% to $1,788 per ounce.
Currencies: The US Dollar Index dropped 0.31%.
Interest Rates: The 10-year US Treasury yield fell to 1.431%.
??**Reminder: The US Stock Market & Bond Market will both be closed on Monday, July 5th, in observance of Independence Day**??
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Carter Worth (@CarterBWorth). The Nasdaq 100 just closed higher for the 7th consecutive week. Carter points out that the Nasdaq has only done this 17 other times since the inception of the index over 35 years ago. Of those 17 prior instances, the following week closed higher 82% of the time for an average gain of 0.89%, and a median gain of 0.68%. It certainly doesn’t hurt that July has historically been a strong month for the Nasdaq. The market will be closed on Monday for Independence Day. But if history rhymes, there’s a good chance that the Nasdaq will close higher next week.
Quote of the Day
“It has been 241 years since Thomas Jefferson wrote the Declaration of Independence. Being short America has been a loser’s game. I predict to you it will continue to be a loser’s game.”
– Warren Buffett
Top Links
Weekly Market Performance – Growth Leads While Small Caps Pullback – LPL Financial Research
The team at LPL Financial Research breaks down this week’s market performance.
Stocks That Have Gained In Every July Over Their Trading History – Equity Clock
Here’s a list of stocks that have never gone down in July over the course of their trading history.
Where Do We (Investors) Stand – David Cox
In this quick video, Portfolio Manager, David Cox highlights some key technical developments to pay attention to.
Big Triangle Breakouts in Key Tech ETFs – How to Trade a Pullback – StockCharts
Art Hill examines several Tech-related ETFs including, the Software ETF ($IGV), the Cyber Security ETF ($CIBR), the Internet ETF ($FDN), the Semiconductor ETF ($SMH), the Internet of Things ETF ($SNSR) and the Networking ETF ($IGN).
Commodities Weekly: Base Metals Hang Tough as Copper Corrects – All Star Charts
The team at All Star Charts reviews some of the major trends in the Commodities market.
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Top Tweets
You’re all caught up now. Thanks for reading!