Daily Chart Report ? Tuesday, October 5th, 2021
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Today’s Summary
Tuesday, October 5th, 2021
Indices: US Stocks rebounded in today’s session with the Dow rising 312 points or 0.92%. The S&P 500 and Nasdaq gained 1.05% and 1.25%, respectively. The Russell 2000 underperformed but still closed higher by 0.49%.
Sectors: 9 of the 11 sectors closed higher. Financials led, gaining 1.96%. Real Estate lagged, falling 0.78%.
Commodities: Crude Oil futures continued higher by 1.69% to a seven-year high of $78.93 per barrel. Gold futures slipped 0.38% to $1,761 per ounce.
Currencies: The US Dollar Index rose 0.19%.
Interest Rates: The 10-year US Treasury yield moved higher to 1.529%
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 Mark Ungewitter (@mark_ungewitter). The red dots represent the performance of the S&P 500 in each October over the past 30 years, and the blue bars represent the intra-month drawdowns. As we mentioned last week, October has a spooky reputation because some of the worst crashes in history have taken place in October (1929, 1987, 2008). It’s also one of the most volatile months of the year, with a median drawdown of -3.0% vs. a median drawdown of -2.0% in all other months. Furthermore, October has more 1% moves (up or down) than any other month. Despite the turbulence, Mark reminds us that October has historically finished strong, with a median gain of 1.4% vs. 1.2% in all other months. In other words, it has historically paid off to stay long and strong throughout this challenging month.
Quote of the Day
“A sign of intelligence is an awareness of one’s own ignorance.”
-Machiavelli
Top Links
October Strategy Session: 3 Key Takeaways
The team at All Star Charts highlights three charts to keep an eye on this month.
Tech Making a Big Turnaround Today – CNBC
In this clip, Chris Verrone of Strategas Research offers his thoughts on the FANG stocks.
Energy and Financials Emerge As Winners – Potomac Fund Management
Dan Russo identifies the strongest/weakest sectors.
Cotton Catches Fire – Bespoke
Bespoke examines the surge in Cotton prices.
Bitcoin’s Short-Term Momentum Turns Positive as Latest Rally Bucks Equity Sell-Off, According to Fairlead Strategies – Markets Insider
Katie Stockton shares her near-term outlook on Bitcoin.
Top Tweets
You’re all caught up now. Thanks for reading!