Daily Chart Report ? Thursday, September 2nd, 2021
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Today’s Summary
Thursday, September 2nd, 2021
Indices: US Stocks closed higher in today's session with the Dow advancing 131 points or 0.37%. The S&P 500 and Nasdaq both closed at all-time highs, rising 0.28% and 0.14%, respectively. The Russell 2000 outperformed, gaining 0.74%.
Sectors: 8 of the 11 sectors closed higher. Energy led by a wide margin, rising 2.54%. Communications lagged, falling 0.67%.
Commodities: Crude Oil futures rose 2.04% to $69.99 per barrel. Gold futures slipped 0.25% to $1,812 per ounce.
Currencies: The US Dollar Index continued lower by 0.31%.
Interest Rates: The 10-year US Treasury yield fell to 1.285%.
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 Pratyush Tulsian (@PrattyCharts). It's a chart of the Ark Space Exploration and Innovation ETF, $ARKX, since its inception six months ago. The top-weighted holdings in this ETF include $TRMB, $PRNT, $IRDM, $KTOS, and $LHX. Pratty points out that this ETF is breaking out to all-time highs. With very little price history, it's tough to say where this ETF will eventually find resistance. But one thing is for sure, all-time highs are certainly not bearish for this young ETF.
Quote of the Day
"Pride of opinion has been responsible for the downfall of more men on Wall Street than any other factor."
- Charles Dow
Top Links
Mid-Week Update 09.02.21 - The Chart Report
In this quick video, Steve Strazza and I discuss several hot topics including seasonality, transportation stocks, commodities, and more.
Don't Look Now But Breadth is Improving - Potomac Fund Management
Dan Russo checks up on market breadth.
Bullish Sentiment Finally Rises in Back to Back Weeks - Bespoke
Bespoke analyzes the results of the latest sentiment surveys.
How to Find Existing Trends & Tradeable Opportunities - TD Ameritrade Network
Respected trader, Jerry Parker offers his thoughts on the current market environment.
Bank Index Teetering Near Financial Crisis Highs??? - Kimble Charting Solutions
Chris Kimble breaks down a long-term chart of the Bank Index, $BKX.
Top Tweets
Japan continuing higher out of its consolidation. $EWJ pic.twitter.com/B0wj6VqtFo
— Tom Bruni, CMT (@BruniCharting) September 2, 2021
You’re all caught up now. Thanks for reading!