Daily Chart Report ? Thursday, October 7th, 2021

Today’s Summary
Thursday, October 7th, 2021

Indices: US Stocks continued higher in today’s session with the Dow rising 338 points or 0.98%. The S&P 500 and Nasdaq gained 0.83% and 1.05%, respectively. The Russell 2000 outperformed, rising 1.59%.

Sectors: 10 of the 11 sectors closed higher. Consumer Discretionary led, gaining 1.56%. The only sector that closed lower was Utilities, falling 0.53%.

Commodities: Crude Oil futures rose 1.12% to $78.30 per barrel. Gold futures inched lower by 0.15% to  $1,759 per ounce.

Currencies: The US Dollar Index was flat (0.04%).

Interest Rates: The 10-year US Treasury yield rose to a three-month high of  1.575%.

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 Alfonso Depablos (@AlfCharts). The S&P 500 is having an above-average year, with very little downside volatility. However, the S&P 500 doesn’t really tell the full story of the stock market. When you look outside of Large-Caps and the S&P 500, this year has really been a trendless mess. As Alfonso points out, Mid-Caps, Small-Caps, and Micro-Caps have all been rangebound for the majority of this year. While trendless environments like this can be frustrating, there is a silver lining to it. You could view this multi-month consolidation as healthy digestion, given the impressive rally that preceded it. Typically you’d expect this consolidation to resolve in the direction of the underlying trend, which in this case is higher. But until then, the trend in stocks outside of Large-Caps continues to be sideways.

Quote of the Day

“One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do.”

– Jim Rogers