Daily Chart Report ? Thursday, August 5th, 2021
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Today’s Summary
Thursday, August 5th, 2021
Indices: US Stocks closed higher in today's session, with the Dow advancing 272 points or 0.78%. The Nasdaq also rose 0.78%, while the S&P 500 rose 0.60%. The Russell 2000 outperformed, gaining 1.81%.
Sectors: 9 of the 11 sectors closed higher. Financials led, gaining 1.31%. Health Care lagged, falling 0.41%.
Commodities: Crude Oil futures rose 1.38% to $69.09 per barrel. Gold futures slipped 0.31% to $1,809 per ounce.
Currencies: The US Dollar Index was flat (0.03%).
Interest Rates: The 10-year US Treasury yield rose to 1.225%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Yuriy Matso (@yuriymatso). It's a chart of S&P 500 futures over the past two weeks. Yuriy points out that, S&P 500 futures have been stuck in a tight range between 4365 and 4420 for over a week now. We've tested and failed at the upper bounds of the range (4420) four times now. Will the fifth time be the charm? It certainly looks like it will be given the strong action into today's close. But price will need to follow through above 4420 in the very near term in order to confirm a breakout from this eight-day trading range.
Quote of the Day
"I'll give you the bottom 10% and the top 10% of any move if I get to keep the middle 80%."
– Bernard Baruch
Top Links
August Jobs Day Bearish Last 20 Years - Almanac Trader
Jeff Hirsch points out that the August unemployment report day (tomorrow) has a bearish track record.
Still Looking for Breadth to Improve - Potomac Fund Management
Dan Russo gives his weekly check on market breadth.
Stocks or Bonds - All Star Charts
The team at All Star Charts takes a look at Stocks vs. Bonds ($SPY/$TLT).
Biggest Jump in Bearish Sentiment Since Last Spring - Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
Talking About Humans w/ David Keller - Technical Analysis Radio
In this video, David Keller and JC Parets discuss the cognitive and emotional biases that influence market participants.
Top Tweets
You’re all caught up now. Thanks for reading!