Daily Chart Report ? Friday, October 22nd, 2021
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Today’s Summary
Friday, October 22nd, 2021
Indices: Dow +0.21% | S&P 500 -0.11% | Nasdaq -0.82% | Russell 2000 -0.21%
Sectors: 7 of the 11 sectors closed higher. Financials led, rising 1.40%. Energy lagged, falling 1.85%.
Commodities: Crude Oil futures rose 1.79% to a seven-year high of $83.98 per barrel. Gold futures gained 0.63% to $1,793 per ounce.
Currencies: The US Dollar Index fell 0.16%.
Interest Rates: The US 10-year Treasury yield snapped a five-day winning streak falling to 1.636%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Rob Hanna of Quantifiable Edges (@QuantifieablEdgs). October has historically been the most volatile month, however that has not been the case this year. The Volatility Index ($VIX) just closed at its lowest level in more than a year yesterday. Rob points out that it’s rare to see the VIX hit a year-to-date low in October. This was the 6th occurrence in the past 30 years. Rob explained; “Five instances is too few to draw solid conclusions. Still, all of those instances were followed by gains between 2-12 months out. For more on this, check out the full note here.
Quote of the Day
“What we achieve inwardly
will change outer reality.”
– Plutarch
Top Links
The Market is Smarter Than You Think | 5 Charts – LPL Financial Research
In this quick video, Ryan Detrick and Scott Brown break down five must-see charts.
Risk-On as the Bear Thesis Continues to Fall Apart – Potomac Fund Management
Dan Russo takes a look at several important ratio charts.
What Happens When Oil Prices Show Historic Momentum – SentimenTrader
Jason Goepfert explains why Crude Oil prices will likely continue rising.
Stock Market & Bitcoin Analysis October 22nd, 2021 – AlphaTrends
Brian Shannon reviews this week’s price action in Stocks and Crypto and lays out some key levels to watch next week.
But in Yen Terms… – All Star Charts
JC Parets points out that US Dollar weakness could spark a rally in precious metals.
Top Tweets
You’re all caught up now. Thanks for reading!