Daily Chart Report ? Thursday, July 22nd, 2021
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Today’s Summary
Thursday, July 22nd, 2021
Indices: US Stocks were mixed in today’s session. The Dow closed pretty flat, inching up just 25 points or 0.07%. The S&P 500 and Nasdaq rose 0.20% and 0.37%, respectively. The Russell 2000 underperformed, falling 1.55%.
Sectors: 6 of the 11 sectors closed higher. Technology led, gaining 0.74%. Energy lagged, falling 1.12%.
Commodities: Crude Oil futures rose 2.29% to $71.91 per barrel. Gold inched higher by just 0.11% to $1,805 per ounce.
Currencies: The US Dollar Index ticked higher by just 0.07%.
Interest Rates: The 10-year US Treasury yield slipped to 1.282%.
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 Adam Koós (@AdamKoos). It’s a daily candlestick chart of the Russell 2000 ETF, $IWM, over the past 10 months. On Monday, we took a look at the Russell 2000 as it was testing a crucial support level for the fourth time. Fortunately for the bulls, the fourth test was a success! However, even with the strong rebound on Tuesday and Wednesday, $IWM continues to be rangebound between $210 and $234. This four-month range appears to be a healthy consolidation phase, given how strong the prior trend was. Adam adds, that momentum has remained bullish throughout this consolidation, with RSI never reaching oversold conditions. Small-Caps tend to lead the broader market higher or lower. So, it would be a big positive for the broader market if the Russell 2000 does eventually resolve higher out of this consolidation.
Quote of the Day
“Uncertainty is an uncomfortable position. But certainty is an absurd one.”
– Voltaire
Top Links
A Buy Signal That Has Never Failed – SentimenTrader
Jason Goepfert examines a bullish reversal signal that fired this week.
Top Semi Stocks To Watch: TXN, AVGO, AMD, SWKS, QRVO, TSM – TD Ameritrade Network
In this clip, Todd Sohn of Strategas Research highlights a few stocks worth watching in the near term including, $SHOP, $MS, and $TSM.
Breadth is Weak, but We All Know That – Potomac Fund Management
Dan Russo gives an update on market breadth.
Gaining Exposure to Crypto Through the Stock Market – All Star Charts
Louis Sykes highlights some ETFs and stocks that provide exposure to Cryptocurrencies.
Coffee Futures About To Rally Another 25% Higher? – Kimble Charting Solutions
Chris Kimble points out that Coffee is breaking out to a six-year high.
Top Tweets
From @sentimentrader: breadth thrust reversal while near an ATH is a pretty good sign pic.twitter.com/5vzVidYy1q
— Urban Carmel (@ukarlewitz) July 22, 2021
You’re all caught up now. Thanks for reading!