Daily Chart Report ? Friday, August 27th, 2021

Today’s Summary
Friday, August 27th, 2021

Indices: US Stocks ended the week on a positive note, with the Dow advancing 243 points or 0.69%. The S&P 500 rose 0.88% logging its 52nd all-time high this year. The Nasdaq also closed at an all-time high, gaining 1.23%. The Russell 2000 outperformed, rising 2.85%.

Sectors: 9 of the 11 sectors closed higher. Energy led, gaining 2.67%. Health Care lagged inching lower by just 0.11%.

Commodities: Crude Oil futures moved higher by 1.96% to $68.74 per barrel. Gold futures gained 1.35% to $1,820 per ounce.

Currencies: The US Dollar Index fell 0.39%.

Interest Rates: The 10-year US Treasury yield dropped to 1.310%.

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 Walter Deemer (@WalterDeemer). It's a daily bar chart of the Small-Cap Russell 2000 ETF, $IWM, over the past 11 months. The Russell 2000 ended the week on a positive note, busting through its 50-day moving average and closing at its highest level since July 12th. Also, it outperformed the other major indices this week by a wide margin, gaining 5% while the S&P 500 rose 1.5%. Small-Caps have been range-bound for the majority of this year, and they remain locked in that range. However, it's a huge win for the bulls that they didn't die at crucial support this week. As we know, Small-Caps often lead the broader market higher or lower. The next objective will be to see how price behaves at the upper bounds of the range, around $233. As we discussed earlier this week, Small-Caps have a bullish seasonal tailwind relative to Large-Caps over the next couple of weeks (end of August until mid-September). At this rate, it's entirely possible that the Russell 2000 tests record highs next week.

Quote of the Day

“Nothing is a waste of time if you use the experience wisely.”

– Auguste Rodin