Daily Chart Report ? Friday, July 30th, 2021

Today’s Summary
Friday, July 30th, 2021

Indices: US Stocks closed lower in today's session, with the Dow falling 149 points or 0.42%. The S&P 500 and Nasdaq moved lower by 0.54% and 0.71%, respectively. The Russell 2000 finished lower by 0.62%.

Sectors: 4 of the 11 sectors closed higher. Materials led, gaining 0.41%. Consumer Discretionary lagged, dropping 2.06%.

Commodities: Crude Oil futures inched higher by 0.26% to $73.81 per barrel. Gold futures dropped 1.03% to $1,817 per ounce.

Currencies: The US Dollar Index rose 0.23%.

Interest Rates: The 10-year US Treasury yield rose 1.226%.

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 Ryan Detrick (@RyanDetrick). July is in the books! The S&P 500 closed higher for the sixth consecutive month, gaining about 2.40%. Ryan points out that further gains have historically followed. The next month was higher about 67% of the time for a small average gain of 0.50%. So, the odds of us extending the recent winning streak to 7-months are slightly better than a coin-toss. Looking further out, average gains get larger and more likely. As Ryan notes, one year later, the S&P 500 has historically been positive 86% of the time for an average gain of 11.9%. While this monthly winning streak may seem unsustainable, history shows us that further gains are entirely possible, and dare I say probable.

Quote of the Day

"I've always found that my most profitable judgments are made late at night or on weekends. This is no accident. It's a time when you can calmly decipher the chart's message."

– Stan Weinstein