Daily Chart Report ? Tuesday, August 24th, 2021
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Today’s Summary
Tuesday, August 24th, 2021
Indices: US Stocks continued higher in today's session. The Dow was fairly flat, ticking up just 31 points or 0.09%. The S&P 500 logged its 50th all-time high this year, inching up just 0.15%. The Nasdaq also closed at a record high, gaining 0.52%. The Russell 2000 outperformed, gaining 1.02%.
Sectors: 6 of the 11 sectors closed higher. Energy led, gaining 1.66%. Consumer Staples lagged falling 0.76%.
Commodities: Crude Oil futures continued to rebound by 2.89% to $67.54 per barrel. Gold futures inched higher by 0.12% to $1,809per ounce.
Currencies: The US Dollar Index slipped 0.10%.
Interest Rates: The 10-year US Treasury yield rose to 1.297%.
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 Steve Strazza (@sstrazza). It's a chart of the Modern Travel ETF, $AWAY, over the past 1.5 years. The top 5 holdings in the ETF include Trainline ($TRN), Airbnb ($ABNB), Bookings Holdings ($BKNG), Uber ($UBER), and MakeMyTrip Ltd. ($MMYT). Steve points out that this group of "travel tech" stocks is finding support at a familiar level around $25. In a comment to The Chart Report, Steve said, "If the bears cant kill the WORST STOCKS, how are they ever going to take control of the broader market? These stocks have been the laggards, and yet, buyers continue to defend crucial support. Take a look at the Airlines ($JETS), it's the same story. I think there's some valuable information to be gleaned from that resilience, and it can only be interpreted as bullish for the broader market.
Quote of the Day
“Fish see the bait, but not the hook;
men see the profit, but not the peril.”
– Chinese Proverb
Top Links
Nasdaq Crosses Another 1,000 Point Threshold - Bespoke
As the Nasdaq Composite crosses 15,000 for the first time, Bespoke takes a look at previous milestones for the index.
In the U.S. and Europe Tech is Leadership - Potomac Fund Management
Dan Russo analyzes each of the 11 S&P sectors on both an absolute and relative basis.
There’s a Market Conundrum Developing That Casts a Shadow Over Risk-Taking, Bank of America Technical Analyst Says - Market Watch
Paul Ciana shares some thoughts on Currencies, Fixed Income, and Commodities.
Will the Dollar Find Its Way? - All Star Charts
The team at All Star Charts examines the outlook for the US Dollar.
Bitcoin is Testing a Key Resistance Level That Could Signal a Pause in its 1-month Rally of 69%, According to Technical Analyst Katie Stockton - Markets Insider
Katie Stockton points out that Bitcoin has a key resistance level overhead at $51,000.
Top Tweets
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