Daily Chart Report ? Thursday, September 16th, 2021
Sponsored By:
Today’s Summary
Thursday, September 16th, 2021
Indices: US Stocks were little changed in today’s session. The Dow inched lower by 63 points or 0.18%. The S&P 500 and Nasdaq changed 0.16% and 0.13%, respectively. The Russell 2000 was flat (0.07%)
Sectors: 3 of the 11 sectors closed higher. Consumer Discretionary led, gaining 0.48%. Energy lagged, falling 1.12%.
Commodities: Crude Oil futures were flat and continue to trade at $72.61 per barrel. Gold dropped 2.12% to $1,756 per ounce.
Currencies: The US Dollar Index rose 0.42%.
Interest Rates: The 10-year US Treasury yield rose to 1.339%.
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 Macro Charts (@MacroCharts). The chart shows the S&P 500 over the past 14 years. The sentiment indicators in red show the weekly rate of change in the results of the AAII Sentiment Survey. Macro Charts points out that bullish sentiment plunged last week, as the S&P 500 pulled back a measly 2%. He adds that dramatic spikes in pessimism are rare, and usually seen after major corrections, rather than when we’re barely off record highs like we were last week. Sentiment is just one piece of the puzzle, but it’s bullish to see that traders remain skeptical of this rally. We’ll leave you with this quote from the legendary investor, Sir John Templeton – “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.”
Quote of the Day
“As contrarians, the only thing to fear
is the lack of fear itself”
– Bernie Schaeffer
Top Links
Large Drops in Bullish Sentiment – Bespoke
Bespoke examines the plunge in bullish sentiment from the lastest AAII Sentiment Survey.
How Long Can the Divergences Last? – Potomac Fund Management
Dan Russo shares his weekly breadth analysis.
Natural Gas ETF Breaks Out Fueled By Seasonal Strength – Kimble Charting Solutions
Chris Kimble takes a look at the recent surge in Natural Gas.
The Past 200 Days Are Just Like 2019 (and 2013, and…) – SentimenTrader
Jason Goepfert compares the current market environment to similar market environments from the past.
3 Energy Stocks With Potential Upside – See it Market
Larry Tentarelli offers up three Energy stocks that he thinks are poised to move higher.
Top Tweets
You’re all caught up now. Thanks for reading!