Daily Chart Report ? Monday, October 11th, 2021

Today’s Summary
Monday, October 11th, 2021

Indices: US Stocks kicked off the week on a sour note with the Dow falling 250 points or 0.72%. The S&P 500 and Nasdaq closed lower by 0.69% and 0.64%, respectively. The Russell 2000 slightly outperformed, but still declined 0.56%.

Sectors: 2 of the 11 sectors closed higher. Real Estate led, inching up just 0.13%. Communications lagged, falling 1.51%.

Commodities: Crude Oil futures rose 1.46% to a seven-year high of $80.51 per barrel. Gold futures slipped 0.19% to  $1,754 per ounce.

Currencies: The US Dollar Index moved higher by 0.27%.

Interest Rates: The Bond Market was closed for Columbus Day.

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 Bespoke (@bespokeinvest). It's a daily candlestick chart of the Finacial sector ETF, $XLF, over the past year. The top-weighted stocks in this ETF include Berkshire Hathaway ($BRK.B), JP Morgan ($JPM), Bank of America ($BAC), Wells Fargo ($WFC), and Citigroup ($C). The Financial sector is up more than 30% year-to-date, making it the second-best performing sector this year behind Energy. Bespoke points out that $XLF broke out of a four-month range to an all-time high last week. It's possible that this turns into a failed breakout, but there's a clear line in the sand around $38. As long as it's above $38, the risk is to the upside. Some of the largest banks in this sector report earnings this week, so we'll likely know by Friday whether or not the recent breakout holds.

Quote of the Day

"If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money.”

- Bill Lipschutz