Daily Chart Report ? Friday, August 13th, 2021
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Today’s Summary
Friday, August 13th, 2021
Indices: US Stocks were little changed in today's session. The Dow ticked higher by just 15 points or 0.04%. The Nasdaq also ticked higher by 0.04%, while the S&P 500 rose 0.16% to a record high. The Russell 2000 underperformed, falling 0.98%.
Sectors: 7 of the 11 sectors closed higher. Consumer Staples led, gaining 0.83%. Energy lagged, falling 1.18%.
Commodities: Crude Oil futures moved lower by 1.53% to $68.03 per barrel. Gold futures rose 1.70% to $1,782 per ounce.
Currencies: The US Dollar Index fell 0.51%.
Interest Rates: The 10-year US Treasury yield dropped to 1.282%.
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 Michael Turvey (@MikeTurvey_TDA). The S&P 500 ended the week on a positive note, closing at an all-time high for the 48th time this year. The calls for a correction are growing increasingly louder. We haven't had a pullback of 5% or more all year (the normal year sees about 3). Also, we haven't had a correction of 10% or more (on a closing basis) since this bull market began over a year ago. Breadth stinks, momentum is diverging, seasonality is a headwind, and yet the S&P 500 continues its relentless grind higher. As Michael says, nobody knows when the music will stop. But one thing is for sure - sticking with the trend has paid well, and the uptrend remains fully intact for now.
Quote of the Day
“Summer afternoon - summer afternoon; to me, those have always been the two most beautiful words in the English language.”
– Henry James
Top Links
Transports are Trying to Get on the Right Track - Potomac Fund Management
Dan Russo points out that the Dow Transportation index is attempting to reverse higher.
Bitcoin is up over 4%: Analyzing /CL & /HG - TD Ameritrade Network
One of the most successful trend followers, Jerry Parker, offers his perspective on Stocks, and Commodities.
Financials in Focus - All Star Charts
Steve Strazza does a deep dive into the Financial sector.
Where Do We (Investors) Stand? - David Cox
In this quick video, David Cox highlights some noteworthy technical developments to keep an eye on next week.
Silver Futures Price Pattern Suggests Big Move Coming! - Kimble Charting Solutions
Chris Kimble breaks down a long-term chart of Silver futures.
Top Tweets
$Vix:$vxv has been sub-80 for a week. This is unusual. The last time was in Feb right into a 4% drop in $SPX. Before that: last Aug before a 10% drop in Sept. Reactions were more muted in 2017, a year quite similar to 2021 in other ways pic.twitter.com/bRHYlyiOJq
— Urban Carmel (@ukarlewitz) August 13, 2021
You’re all caught up now. Thanks for reading!