Daily Chart Report ? Thursday, September 9th, 2021
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Today’s Summary
Thursday, September 9th, 2021
Indices: US Stocks continued lower in today's session with the Dow falling 152 points or 0.43%. The S&P 500 and Nasdaq slipped 0.46% and 0.25%, respectively. The Russell 2000 outperformed, closing flat (0.03%).
Sectors: 3 of the 11 sectors closed higher. Financials led, gaining 0.29%. Real Estate lagged, dropping 2.12%.
Commodities: Crude Oil futures fell 1.67% to $68.14 per barrel. Gold futures rose 0.36% to $1,800 per ounce.
Currencies: The US Dollar Index moved lower by 0.20%.
Interest Rates: The 10-year US Treasury yield dropped to 1.302%.
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 Charlie Bilello (@charliebilello). The table shows the maximum drawdown for the S&P 500 in each year going back to 1928. The S&P 500 fell for the fourth consecutive day today, and yet we're less than 1% off of an all-time high. This year has been a steady bleed higher with very little downside volatility. In an average year, the S&P 500 experiences about three pullbacks of 5% or more. The largest decline we've seen this year has been 4.2% on a closing basis. Charlie points out that only three other years have seen a smoother ride than 2021 - 1964, 1995, and 2017. While this unusual environment is an investor's dream, it's extremely important that we don't get complacent, and forget about downside risk.
Quote of the Day
“Mostly it is loss which teaches us about the worth of things.”
- Arthur Schopenhauer
Top Links
Breadth Metrics Weaken as the S&P 500 Hits a Three-Day Losing Streak - Potomac Fund Management
Dan Russo points out that several breadth metrics are starting to roll over.
Largest 25 Stocks in the S&P 500, Now Vs. 10 Years Ago - Bespoke
Bespoke looks at the composition of the S&P 500 over the past decade.
A Breadth Thrust That Acts More Like a Blow-Off - SentimenTrader
Jason Goepfert points to a potentially bearish signal for stocks.
Reminders From Crypto's Crash - All Star Charts
The team at All Star Charts highlights relative strength within the Crypto market.
September Seasonal Pattern: Weakness After Mid-Month - Almanac Trader
Seasonality expert, Jeff Hirsch takes a look at how Stocks have historically performed throughout September.
Top Tweets
You’re all caught up now. Thanks for reading!