Daily Chart Report ? Wednesday, October 27th, 2021
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Today’s Summary
Wednesday, October 27th, 2021
Indices: Dow -0.74% | S&P 500 -0.51% | Nasdaq 0.00% | Russell 2000 -1.90%
Sectors: 1 of the 11 sectors closed higher. Consumer Discretionary was the only sector that gained, inching up 0.22%. Energy lagged, falling 1.87%.
Commodities: Crude Oil futures dropped 3.06% to $82.06 per barrel. Gold futures rose 0.25% to $1,798 per ounce.
Currencies: The US Dollar Index slipped 0.11%.
Interest Rates: The US 10-year Treasury yield fell for the fourth straight day to 1.543%.
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 Jonathan Harrier (@jonathanharrier). It’s a monthly candlestick chart of the Russell 2000 over the past six years. The Russell 2000 has been moving sideways for the majority of 2021, while other major indices have continuously made new highs. At this point, it really does feel like a never-ending story. However, Jonathan points out that this is healthy price action given the fact that the Russell 2000 ran up 145% in less than a year prior to this consolidation. As we know, consolidations typically resolve in the direction of the underlying trend, which in this case is higher. Mid-Caps recently broke out of a similar multi-month consolidation, so it wouldn’t be surprising if Small-Caps did the same soon. It’s also important to note that Small-Caps tend to outperform Large-Caps over the next few months.
Quote of the Day
“Most people become anxious about losses, yet successful speculators have learned that an essential ingredient to winning is to make it OK to lose.”
– Van K. Tharp
Top Links
Here Comes One of the Best Days of the Year (and the Best Week and Month) – LPL Financial Research
The team at LPL Financial Research points out that the next few days have historically been the best days of the year for Stocks.
Running Room Into the End of the Year – Potomac Fund Management
Dan Russo highlights some key points about the current market environment.
Tesla (TSLA) Not Enough To Lift ARK Innovation (ARKK) – Bespoke
Bespoke points out that the popular ARK ETFs continue to underperform the S&P 500.
Gold Mining Stocks are Surging…and Have a Lot To Prove – SentimenTrader
Jason Goepfert examines the recent strength in Gold Mining stocks.
Mapping the Biggest Companies By Market Cap in 60 Countries – Visual Capitalist
Here’s a cool infographic that shows the largest companies in each country around the world.
Top Tweets
You’re all caught up now. Thanks for reading!