Daily Chart Report ? Monday, July 26th, 2021
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Today’s Summary
Monday, July 26th, 2021
Indices: US Stocks closed slightly higher to start the week, with the Dow rising 83 points or 0.24%. The S&P 500 also rose 0.24%, while the Nasdaq closed flat (0.03%). The Russell 2000 managed to outperform, gaining 0.33%.
Sectors: 7 of the 11 sectors closed higher. Energy led by a wide margin, gaining 2.47%. Health Care lagged, falling 0.65%.
Commodities: Crude Oil futures inched lower by 0.22% to $71.91 per barrel. Gold futures also inched lower, slipping 0.14% to $1,799 per ounce.
Currencies: The US Dollar Index fell 0.30%.
Interest Rates: The 10-year US Treasury yield rose to 1.295%
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 Charlie Bilello (@charliebilello). It’s a ratio chart of the China ETF, $FXI, vs. the S&P 500 over the past 16-years. Chinese stocks have continued to slide, with $FXI hitting fresh lows relative to US stocks today. As you might know, a lot of Emerging Markets funds are heavily weighted towards Chinese stocks. So, This recent weakness in China is taking its toll on Emerging Markets. The popular ETF, $EEM, is also hitting fresh lows relative to the S&P 500. Going into 2021, $EEM was one of the more hopeful trades, as it was breaking out for the first time in over a decade. But, if Chinese stocks don’t stabilize soon, Emerging Markets will likely continue to be under pressure.
Quote of the Day
“The most profitable market movies in the United States occur when the overwhelming majority of world markets are in agreement.”
– Stan Weinstein
Top Links
New Equity Highs but Leadership Remains Concentrated in Large Caps – Potomac Fund Management
Dan Russo shares some key takeaways from the current market environment.
After This Signal, Energy Stocks Never Declined – SentimenTrader
Jason Goepfert examines the recent reversal in the Energy sector.
The Dips Keep Getting Bought – Momentum Monday
Howard Lindzon and Ivanhoff highlight the strongest stocks, trends, and themes across the markets.
Crypto > Stocks – All Star Charts
JC Parets points out that Bitcoin is breaking out relative to the S&P 500 again.
Bitcoin is Set Up for at Least 30% More Upside After Surging Above a Key Technical Level and With Near-Term Momentum Shifting Positive – Markets Insider
Katie Stockton offers her technical perspective on Bitcoin.
Top Tweets
You’re all caught up now. Thanks for reading!