Daily Chart Report ? Thursday, September 30th, 2021
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Today’s Summary
Thursday, September 30th, 2021
Indices: US Stocks closed lower in today’s session, with the Dow falling 547 points or 1.59%. The S&P 500 and Nasdaq fell 1.19% and 0.44%, respectively. The Russell 2000 closed lower by 0.94%.
Sectors: All 11 sectors closed lower. Communications led but still slipped 0.31%. Industrials lagged, dropping 2.05%.
Commodities: Crude Oil futures rose 0.27% to $75.03 per barrel. Gold futures rebounded 1.98% to $1,757 per ounce.
Currencies: The US Dollar Index slipped 0.12%.
Interest Rates: The 10-year US Treasury yield fell to 1.489%
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 Ryan Detrick (@RyanDetrick). September is in the books! The S&P 500 ended a 7-month winning streak falling 4.76%, marking the worst month since last September. For my fellow seasonality junkies out there, September’s weakness should come as no surprise given its notorious reputation as the worst month for the S&P 500. As we turn the calendar, October doesn’t have a great reputation either due to the fact that several major crashes have occurred during this month (1929, 1987, 2008). However, Ryan reminds us that October hasn’t been that bad in recent decades. In a note from LPL Financial Research, he explained “October clearly isn’t one of the best months of the year, but by no means is it the worst either.” However, it is one of the most volatile months, he added, “No month has seen more 1% moves (up or down) than October, with some of the largest 1-day moves (both up and down) taking place this month.” For more on this, check out the full note here.
Quote of the Day
“October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February.”
– Mark Twain
Top Links
Could There Be an October Crash? – LPL Financial Research
The team at LPL Financial Research lays out everything there is to know about October seasonality.
Are Rising Interest Rates Bad for Tech Stocks? – A Wealth of Common Sense
Ben Carlson examines the relationship between interest rates and Growth/Tech stocks.
Small Caps are the Most Improved Player in the Breadth Game – Potomac Fund Management
Dan Russo shares his weekly breadth analysis.
Go Big or Go Home: Katie Stockton’s Best Ideas for Q4 – CNBC
In this clip, Katie Stockton offers some of her favorite stock picks for Q4 including, $CAG, $DISH, $MA, and $OXY.
Bearish Sentiment Back Above 40% – Bespoke
Bespoke breaks down the results of the latest sentiment surveys.
Top Tweets
You’re all caught up now. Thanks for reading!