Chart of the Day - Wednesday, October 6th, 2021

Today’s Chart of the Day was shared by Urban Carmel (@ukarlewitz). It's a daily candlestick chart of the Russell 3000 ($IWV) over the past nine months. The Russell 3000 is one of the broadest stock market indices, as it represents 98% of all investable US Equities. As of today's close, the index is up two days in a row, but it hasn't been up three days in a row since the end of August. As Urban points out, three-day winning streaks are almost exclusively found in uptrends. The index has been trending lower for more than a month now, but one more up day tomorrow would be a sign that this broad market index is attempting to make a new leg higher.