Daily Chart Report ? Monday, August 9th, 2021

Today’s Summary
Monday, August 9th, 2021

Indices: US Stocks closed slightly lower to start the week. The Dow fell 107 points or 0.30%. The S&P 500 was flat (0.09%), while the Nasdaq managed to inch higher by 0.16%. The Russell 2000 underperformed, falling 0.58%.

Sectors: 3 of the 11 sectors closed higher. Health Care led, gaining 0.38%. Energy lagged, falling 1.41%.

Commodities: Crude Oil futures moved lower by 2.64% to $66.48 per barrel. Gold futures dropped 2.08% to $1,727 per ounce.

Currencies: The US Dollar Index rose 0.20%.

Interest Rates: The 10-year US Treasury yield continued higher to 1.327%.

**Correction from Friday's report: the 10-yr yield closed at 1.30% on Friday, not 1.858% as stated**

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 Fundstrat (@fundstrat). It's a chart of Bitcoin over the past 2-years with its 200-day moving average in red. Bitcoin reclaimed its 200-day moving average today, after being stuck below it for nearly three months. FundStrat points out that Bitcoin tends to perform much better when it's above its 200-day rather than below it. When Bitcoin is trading above its 200-day, 6-month forward returns we're around 193%, versus just 10% when it was below its 200-day (according to data from 2010-2020). Clearly, the trend is your friend when it comes to Bitcoin. And right now, the trend appears to be in the process of resolving higher after a necessary pause.

Quote of the Day

“Yesterday's home runs don't win today's games.”

– Babe Ruth