Daily Chart Report ? Wednesday, October 6th, 2021
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Today’s Summary
Wednesday, October 6th, 2021
Indices: US Stocks closed higher in today’s session with the Dow rising 102 points or 0.30%. The S&P 500 and Nasdaq gained 0.41% and 0.47%, respectively. The Russell 2000 underperformed, falling 0.60%.
Sectors: 8 of the 11 sectors closed higher. Utilities led, gaining 1.55%. Energy lagged, falling 1.05%.
Commodities: Crude Oil futures snapped a four-day winning streak, falling 1.90% to $77.43 per barrel. Gold futures were flat (0.05%) and continue to trade at $1,762 per ounce.
Currencies: The US Dollar Index rose 0.27%.
Interest Rates: The 10-year US Treasury yield inched lower to 1.524%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Urban Carmel (@ukarlewitz). It’s a daily candlestick chart of the Russell 3000 ($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 during uptrends. The index has been trending lower for more than a month now, but one more up day tomorrow would be a sign that the index is attempting to make a new leg higher.
Quote of the Day
“Big movements take time to develop.”
– Jesse Livermore
Top Links
The Most Important Chart In The World – LPL Financial Research
The team at LPL Finacial Research puts the recent pullback into perspective.
Energy Crisis Brewing? Crude Oil & Natty Gas Price Breakouts Stir Worries – Kimble Charting Solutions
Chris Kimble examines the surge in Nat Gas and Crude Oil prices.
Target This Bubbling Oil Stock in October – Schaeffer’s Investment Research
The team at Schaeffer’s Investment Research points out that Marathon Petroleum Corp. ($MPC), has a 90% win rate in October over the past decade.
Stock Market Analysis October 6, 2021 – AlphaTrends
In this quick video, Brian Shannon analyzes recent price action and lays out a few key levels to watch in the near term.
Will the Dollar Fall in Line – All Star Charts
The team at All Star Charts takes a look at the relationship between Commodities and the US Dollar.
Top Tweets
You’re all caught up now. Thanks for reading!