Daily Chart Report ? Monday, August 16th, 2021

Today’s Summary
Monday, August 16th, 2021

Indices: US Stocks were mixed to start the week. The Dow rose 110 points or 0.31% to an all-time high. The S&P 500 also closed at a record high, gaining 0.26%. The Nasdaq slipped 0.20%. The Russell 2000 underperformed, falling 0.89%.

Sectors: 7 of the 11 sectors closed higher. Health Care led, gaining 1.14%. Energy lagged, dropping 1.84%.

Commodities: Crude Oil futures moved lower by 1.68% to $67.29 per barrel. Gold futures rose 0.65% to $1,790 per ounce.

Currencies: The US Dollar Index inched higher by 0.10%.

Interest Rates: The 10-year US Treasury yield fell to 1.270%.

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 David Keller (@DKellerCMT). It’s a chart of the Dow Jones Transportation Average over the past two years. Part of the bear case over the past few months has been the lack of participation from Transportation stocks. It has been more than three months since we’ve seen new highs in the Transportation Average. Meanwhile, the Dow Jones Industrial Average has continued to print new highs. Typically, you want the companies that move the goods (Dow Jones Transportation Average) to confirm the strength in the companies that make the goods (Dow Jones Industrial Average). When the two averages are in disagreement it is known as a Dow Theory Sell Signal. The good news is that things have begun to improve for the Transports in the past week. David points out that the Transportation Average has reclaimed its 50-day moving average, and it’s attempting to break out of a three-month downtrend. While Transportation stocks are still far from an all-time high, it’s encouraging to see an improvement from this key area of the market.

Quote of the Day

“Do not seek to follow in the footsteps of the wise.
Seek what they sought.”

– Matsuo Basho