Daily Chart Report ? Tuesday, October 12th, 2021

Today’s Summary
Tuesday, October 12th, 2021

Indices: US Stocks closed slightly lower in today's session with the Dow falling 118 points or 0.34%. The S&P 500 slipped 0.24%, while the Nasdaq inched lower by 0.14%. The Russell 2000 notably outperformed, gaining 0.61%.

Sectors: 6 of the 11 sectors closed higher. Real Estate led, gaining 1.34%. Communications lagged, falling 0.93%.

Commodities: Crude Oil futures inched up 0.15% to a seven-year high of $80.64 per barrel. Gold futures rose 0.21% to $1,759 per ounce.

Currencies: The US Dollar Index rose 0.16%.

Interest Rates: The US 10-year Treasury yield moved lower to 1.580%.

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 Liz Young (@LizYoungStrat). Liz points out that the last time the S&P 500 closed at an all-time high was on September 2nd, which was 27 trading days ago. This is the longest streak since last year when something very similar happened. The S&P 500 peaked on September 2nd, 2020, and went 51 trading days without an all-time high. That streak ended on November 13th, 2020. From there, the S&P 500 went on to rally nearly 5% until the end of the year. We all know that September through mid-October tends to be a challenging period for the S&P 500, but it's still surprising to see history repeat so exactly. As of today's close, we're still more than 4% below an all-time high, so the current streak will likely continue. But, the good news is that seasonality flips from bearish to bullish in the back half of October.

Quote of the Day

"If youth knew; if age could.”

- Sigmund Freud