Daily Chart Report ? Friday, September 10th, 2021
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Today’s Summary
Friday, September 10th, 2021
Indices: US Stocks continued lower for the fifth straight day, with the Dow falling 272 points or 0.78%. The S&P 500 and Nasdaq closed lower by 0.77% and 0.87%, respectively. The Russell 2000 underperformed, dropping 0.96%.
Sectors: All 11 sectors closed lower. Materials led, closing flat (0.02%). Utilities lagged, falling 1.40%.
Commodities: Crude Oil futures moved higher by 2.30% to $69.71 per barrel. Gold futures fell 0.66% to $1,788 per ounce.
Currencies: The US Dollar Index rose 0.13%.
Interest Rates: The 10-year US Treasury yield moved higher to 1.344%.
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 Willie Delwiche (@WillieDelwiche). It’s a daily candlestick chart of the Global X Uranium ETF, $URA, over the past year. This ETF provides exposure to Uranium prices by holding companies that are involved in the Uranium industry including, Cameco Corp. ($CCJ), JSC National Atomic Co. ($KAP), NexGen Energy ($NXE), Paladin Energy ($PDN), Denison Mines Corp. ($DNN), and more. Uranium prices are at their highest level in nearly seven years. Not surprisingly, this ETF is also breaking out to multi-year highs on both an absolute and relative basis. In a comment to The Chart Report, Willie said, “There are plenty of areas in the market where investors are trying to anticipate resolution. This is one area where we are already seeing it – and it’s to the upside.”
Quote of the Day
“Millionaires don’t use astrology,
but billionaires do.”
– John Pierpont Morgan
Top Links
The Most Important (Technical) Chart in the World – LPL Financial Research
The team at LPL Financial Research explains why Transportation stocks could hold the answer to the broader market’s next move.
What You Need to Know About September Weakness – StockCharts
Tom Bowley examines how the S&P 500 has historically behaved around September options expiration.
Fill the Gap Podcast Episode 9: Chris Verrone, CMT – The CMT Association
Here’s a good podcast with Chris Verrone of Strategas Research, in which he discusses his career, process, and more.
Where Do We (Investors) Stand – David Cox
In this quick video, David Cox highlights some noteworthy technical developments to be aware of.
Stock Market & Bitcoin Analysis September 10, 2021 – Brian Shannon
Brian Shannon breaks down this week’s price action and lays out a few levels to keep an eye on next week.
Top Tweets
You’re all caught up now. Thanks for reading!