Daily Chart Report ? Wednesday, September 15th, 2021
Sponsored By:
Today’s Summary
Wednesday, September 15th, 2021
Indices: US Stocks closed higher in today's session with the Dow rebounding 237 points or 0.68%. The S&P 500 and Nasdaq rose 0.85% and 0.82%, respectively. The Russell 2000 outperformed, gaining 1.11%.
Sectors: 10 of the 11 sectors closed higher. Energy was the clear leader, jumping 3.73%. Utilities was the only sector to close lower, slipping just 0.15%.
Commodities: Crude Oil futures moved higher by 3.09% to $72.64 per barrel. Gold futures fell 0.66% to $1,795 per ounce.
Currencies: The US Dollar Index slipped 0.19%.
Interest Rates: The 10-year US Treasury yield rose to 1.304%.
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 Yuriy Matso (@yuriymatso). It's a 15-minute candlestick chart of Nasdaq futures since Friday. The major indices closed at a precarious spot yesterday, but buyers showed up exactly where they needed to today. Yuriy points out that Nasdaq futures have formed a bear trap. A bear trap, or failed breakdown as it's also called, is when price briefly undercuts a clear support level, and then quickly reclaims it. These formations often lead to explosive moves in the opposite direction of the breakdown, which in this case means a reversal higher. It's often said that "from failed moves come fast moves in the opposite direction." The bears had their chance this morning, but the bulls fought back, keeping the uptrend intact for now.
Quote of the Day
"Blessed is he who expects nothing,
for he shall never be disappointed."
- Alexander Pope
Top Links
One More Chance for the "Buy the Dip" Crowd? - Potomac Fund Management
Dan Russo highlights some key takeaways from the current market environment.
The 4th Longest Momentum Streak Since 1928 Just Ended - SentimenTrader
Jason Goepfert points out that the S&P 500 just ended a historically long streak in which the percentage of stocks was persistantly above 75%.
Natural Gas Prices Explode Higher - Bespoke
Bespoke examines the recent surge in Natural Gas.
We Can See More Than "Just" Sector Rotation on Relative Rotation Graphs - StockCharts
Julius de Kempenaer analyzes rotation within Commodities.
It's Do or Die for Gold & Silver - Rieben Financial
Greg Rieben lays out some key levels to watch for Gold and Silver.
Top Tweets
You’re all caught up now. Thanks for reading!