Daily Chart Report ? Tuesday, September 21st, 2021
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Today’s Summary
Tuesday, September 21st, 2021
Indices: US Stocks were little changed in today’s session. The Dow inched lower by 50 points or 0.15%. The S&P 500 was pretty flat (0.08%), The Nasdaq outperformed, gaining 0.22%. The Russell 2000, inched higher by 0.18%.
Sectors: 5 of the 11 sectors closed higher. Energy led, rising 0.23%. Industrials lagged, falling 0.53%.
Commodities: Crude Oil futures rose 0.50% to $70.49 per barrel. Gold futures gained 0.82% to $1,778 per ounce.
Currencies: The US Dollar Index was flat (0.02%).
Interest Rates: The 10-year US Treasury yield ticked higher to 1.324%.
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 Jonathan Harrier (@jonathanharrier). The chart shows the percentage of S&P 500 stocks that are trading above their 10-day moving average. Jonathan points out that short-term breadth has gotten extremely oversold amid the recent pullback, with just 12% of stocks in the S&P 500 trading above their 10-day moving average. in the past 5-years, we’ve had 18 readings below 20%. A month later, the S&P 500 has historically been higher 83% of the time for an average gain of 3.06%, and a median gain of 4.61%. For more on this, check out the full backtest results here.
Quote of the Day
“The stock market is never obvious. It is designed to fool most of the people, most of the time.”
– Jesse Livermore
Top Links
There Goes the 50-day Moving Average – LPL Finacial Research
The team at LPL Financial Research puts the recent pullback into perspective.
Why Aren’t Defensive Groups Showing Stronger Leadership? – Potomac Fund Management
Dan Russo shares his weekly sector analysis.
September Confreence Call: 5 Key Takeaways – All Star Charts
The team at All Star Charts highlights five charts to keep an eye on in the coming weeks.
CAC 40 Index Sends Ominous Sell Signal to French Equity Investors – Kimble Charting Solutions
Chris Kimble points out that France’s CAC 40 index is stalling at resistance from the 2000 highs.
Here’s How Wall Street Has Reacted To The Fed The Last 10 Meetings – StockCharts
With the Fed announcement tomorrow, Tom Bowley examines how the S&P 500 has reacted to recent Fed meetings.
Top Tweets
You’re all caught up now. Thanks for reading!