Daily Chart Report ? Friday, September 24th, 2021
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Today’s Summary
Friday, September 24th, 2021
Indices: US Stocks were little changed in today's session, with the Dow ticking up just 33 points or 0.10%. The S&P 500 inched higher by 0.15%, while the Nasdaq was flat (0.03%). The Russell 2000 underperformed, falling 0.49%.
Sectors: 7 of the 11 sectors closed higher. Communications led, rising 0.82%. Real Estate lagged, falling 1.14%.
Commodities: Crude Oil futures continued higher by 0.93% to $73.98 per barrel. Gold futures inched higher by 0.11% to $1,752 per ounce.
Currencies: The US Dollar Index rose 0.21%.
Interest Rates: The 10-year US Treasury yield continued higher to 1.454%.
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 Steve Deppe (@SJD10304). This week started off ugly, with the S&P 500 dropping more than 2% intraday on Monday. However, buyers quickly stepped in and we managed to close positive on the week by 0.51%. Steve points out that similar price action has historically led to positive forward returns over the next few weeks. Of course, we can never expect history to repeat exactly. But stats like these are valuable because they put the tape in context, and can give you an idea of how the market behaves under similar conditions.
Quote of the Day
“In Wall Street, the only thing that's hard to explain is next week.”
- Louis Rukeyser
Top Links
Weekly Market Performance - Small Caps and Energy Power This Week's Results - LPL Financial Research
The team at LPL Financial Research sums up this week's market performance.
Gap Closed Amid Increasing Risk Appetite - Potomac Fund Management
Dan Russo examines several important ratio charts.
Who's Ready for Rising Rates? - All Star Charts
The team at All Star Charts examines which areas of the stock market are likely to benefit in a rising rate environment.
Can Emerging Markets Recapture Magic With Important Breakout? - Kimble Charting Solutions
Chris Kimble breakdown a long-term chart of the Emerging Markets ETF, $EEM.
Mid Week Update - The Chart Report
In case you missed it, here's a conversation I had with Steve Stazza yesterday about this week's pullback in Stocks and the breakout in Treasury Yields.
Top Tweets
$IWM gets over the 10wk by a hair. And back into the upper half of this 9 month range.https://t.co/vO2i78ZAQA
— andy_moss (@Andy__Moss) September 24, 2021
You’re all caught up now. Thanks for reading!