Daily Chart Report ? Friday, July 16th, 2021
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Today’s Summary
Friday, July 16th, 2021
Indices: US Stocks ended the week on a sour note, with the Dow falling 299 points or 0.86%. The S&P 500 and Nasdaq closed lower by 0.75% and 0.80%, respectively. The Russell 2000 underperformed, dropping 1.24%.
Sectors: 4 of the 11 sectors closed higher. Utilities led again, rising 1.01%. Energy lagged again, dropping 2.83%.
Commodities: Crude Oil futures slipped 0.67% to $71.17 per barrel. Gold futures fell 0.90% to $1,813 per ounce.
Currencies: The US Dollar Index rose 0.16%.
Interest Rates: The 10-year US Treasury yield continued lower to 1.294%.
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 Joe Fahmy (@jfahmy). It’s a daily chart of the Nasdaq Composite over the past 15-months. The Nasdaq fell for the fourth consecutive day in today’s session, closing below its 21-day exponential moving average (green) for the first time in nearly two months. Despite the four-day losing streak, the Nasdaq is currently only 2% off of a record high. The 21-day exponential moving average has done a good job of defining the short-term trend in recent months. So, today’s break warrants some near-term caution. However, Joe adds that potential support lies less than 2% below current prices, around 14,100 – 14,200.
Quote of the Day
“You can’t stop the waves, but you can learn to surf.”
– Jon Kabat-Zinn
Top Links
Seasonal Summer Slump – Bespoke
Bespoke examines the summer doldrums.
This Indecision’s Is Bugging Me – Potomac Fund Management
Dan Russo outlines some key takeaways from the current market environment.
Charting the Second Half Expert Panel – StockCharts.com
Several respected technicians discuss the outlook for the market in the second half of the year.
Where Do We (Investors) Stand? – Conor White
In this quick video, Conor White highlights some key technical developments across the markets.
5-Chart Friday (7/16/21) – Compound
Charlie Bilello shares five noteworthy charts.
Top Tweets
You’re all caught up now. Thanks for reading!