Daily Chart Report ? Wednesday, September 1st, 2021

S&P 500 up >20% YTD at the end of Aug. What's next?

Higher 6 out of 7 times, with only 1987 in the red. pic.twitter.com/A0NdDVvUIn

— Ryan Detrick, CMT (@RyanDetrick) September 1, 2021

Yes, stocks have done well this year.

So well that the S&P is up 20% through yesterday, poised for one of the best years in history.

Momentum is working in the market’s favor, and it *usually* means a smooth end to the year. pic.twitter.com/lgLCSn3cpu

— Callie Cox (@callieabost) September 1, 2021

A few of my favorite studies now that August is in the books:

First, the S&P 500 pushed its monthly winning streak to 7.

Here are all priors.

T+5 months later has never seen the index close lower. pic.twitter.com/dAZq4tPnoN

— Steve Deppe, CMT (@SJD10304) August 31, 2021

With August over, its a good time to take a look at seasonality. Sept is the most bearish month over the last 20 years for $SPX & played out last 3 years. On average, begins mid-month after earlier month upside as shown in chart below. As always though, price setup comes first pic.twitter.com/5uesOJiabr

— Adam Mancini (@AdamMancini4) September 1, 2021

When looking #SPX seasonal patterns it's important to recognize the average seasonal pattern is just that

Is 2021 the average, YTD?

When $SPX has gained more than 13% in first half of year (17% in 2021), September has been higher 67% of the time with a median return 1.4% pic.twitter.com/RE1DyTZsQI

— Seth Golden (@SethCL) September 1, 2021

Just a reminder that the Fed raised rates 9 times from 2015-2018. $SPY responded by gaining ~40% during that time, including one of its best stretches ever from 2016-2018. $IWM went up ~50% during that time. Not as simple as rates go up, stocks go down. https://t.co/5jdJGlQkse pic.twitter.com/f1IZFUiYOR

— Andrew Adams CFA, CMT (@DayTraderGator) September 1, 2021

Dow Jones Industry Charts: Real Estate

1. $DJUSSR Specialty REITs Index

Holy smokes. pic.twitter.com/4noSQhggPM

— Shane C. Murphy (@murphycharts) September 1, 2021

Amazon has remained above the 2903.4% Fibonacci extension level for over a year. Is it ime for a next leg higher?$AMZN pic.twitter.com/8CWsl8tIyp

— Alfonso De Pablos, CMT (@AlfCharts) September 1, 2021

From an asset class perspective, commodities are in the lead through the first two-thirds of the year.

Probably not much of a comfort for those whose only commodity exposure is GLD. pic.twitter.com/51meLtC5Qj

— Willie Delwiche, CMT, CFA (@WillieDelwiche) September 1, 2021

here's my monthly gold chart for the bugs out there... my line still stands... pic.twitter.com/LYsUYySCvr

— David Cox, CMT, CFA (@DavidCoxRJ) September 1, 2021

Ethereum breaking out & following through.👀#Ethereum pic.twitter.com/4LvP5C8Lnm

— Greg Rieben (@gregrieben) September 1, 2021

Monthly.ETH pic.twitter.com/xYayVmaD6b

— J.C. Parets (@allstarcharts) September 1, 2021

teeny tiny stocks are still in charge

YTD:
Russell Microcaps +26.3%
Russell 2000 +15.8%
S&P 500 +20.5% pic.twitter.com/bEkmPZkweH

— Katie Greifeld (@kgreifeld) September 1, 2021