Daily Chart Report ? Monday, October 25th, 2021

Today’s Summary
Monday, October 25th, 2021

Indices: Dow +0.18% | S&P 500 +0.47% | Nasdaq +0.90% | Russell 2000 +0.93%

Sectors: 8 of the 11 sectors closed higher. Consumer Discretionary led, gaining 2.48%. Utilities lagged, falling 0.43%.

Commodities: Crude Oil futures were flat (0.06%) and continue to trade at $83.71 per barrel. Gold futures rose 0.70% to $1,809 per ounce.

Currencies: The US Dollar Index gained 0.23%.

Interest Rates: The US 10-year Treasury yield ticked slightly lower to 1.633%.

alling 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 Ian McMillan (@the_chart_life). It’s a daily candlestick chart of Tesla ($TSLA) over the past 2.5 years. This was easily the most talked-about stock today as it broke out to an all-time high and joined the $1 trillion market cap club. This wasn’t just any old breakout, it was a breakaway gap, which is when price gaps above a significant resistance level and continues higher. Breakaway gaps are often found at the beginning of a new trend. It’s also worth noting that the stock has formed a solid 10-month base to launch higher from. To be fair, it may be hard to trade this breakout given today’s 12% move. But after going sideways all year, this looks like the beginning of a new leg higher for the world’s most contested automaker.

Quote of the Day

"Fundamentalists who say they are not going to pay any attention to the charts are like a doctor who says he's not going to take a patient's temperature."

- Bruce Kovner