Daily Chart Report ? Monday, August 2nd, 2021
Sponsored By:
Today’s Summary
Monday, August 2nd, 2021
Indices: US Stocks closed lower to start the week/month. The Dow slipped 97 points or 0.28%. The S&P 500 inched lower by just 0.18%, while the Nasdaq managed to close slightly positively (0.06%). The Russell 2000 underperformed, falling 0.48%.
Sectors: 4 of the 11 sectors closed higher. Utilities led, gaining 0.77%. Materials lagged, falling 1.21%.
Commodities: Crude Oil futures dropped 3.33% to $71.49 per barrel. Gold futures were unchanged and continue to trade around $1,817 per ounce.
Currencies: The US Dollar Index was unchanged.
Interest Rates: The 10-year US Treasury yield dropped to 1.177%.
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 Mike Moses (@DominickMike). It's a daily candlestick chart of the Semiconductor ETF, $SMH, over the past 1.5 years. The top-weighted stocks in this ETF include, $TSM, $NVDA, $ASML, $AMD and $QCOM. Semiconductors gapped higher to start the week and closed at another record high today. Semiconductors are the chips that are found in virtually every electronic device. Due to their numerous uses, Semiconductor stocks serve as a leading indicator for both the Technology sector and the broader market. This bellwether industry group is clearly resolving higher into uncharted territory after a six-month consolidation. While there continue to be some bearish developments out there, this certainly isn't one of them. Remember; you can't have a party without the chips!
Quote of the Day
"It's not what happens to you, but how you react to it that matters."
– Epictetus
Top Links
Did You Know Stocks Historically Peak in Early August? - LPL Financial Research
The team at LPL Financial Research takes a look at seasonality as we enter August.
Swimming in Markets - The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss the most important technical developments.
2 Charts for August - All Star Charts
JC Parets shares two charts to keep an eye on this month.
Market of Stocks - Momentum Monday
Howard Lindzon and Ivanhoff highlight the strongest stocks, trends, and themes across the markets.
Bitcoin and Chinese Equities Go Their Separate Ways - StockCharts
Martin Pring analyzes several cryptocurrencies and examines the recent carnage in Chinese stocks.
Top Tweets
Divergence growing here, hitting extremes now on the 1 year frames (60 day correlations).$TNX $DBC pic.twitter.com/ir1RTFdCT6
— Arun S. Chopra CFA CMT? (@FusionptCapital) August 2, 2021
You’re all caught up now. Thanks for reading!