Daily Chart Report ? Friday, October 29th, 2021
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Today’s Summary
Friday, October 29th, 2021
Indices: Dow +0.25% | S&P 500 +0.19% | Nasdaq +0.33% | Russell 2000 -0.03%
Sectors: 5 of the 11 sectors closed higher. Health Care led, gaining 0.97%. Real Estate lagged falling 1.20%.
Commodities: Crude Oil futures moved higher by 0.58% to $83.29 per barrel. Gold futures dropped 1.01% to $1,784 per ounce.
Currencies: The US Dollar Index gained 0.84%.
Interest Rates: The US 10-year Treasury yield inched lower to 1.564%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by David Rath (@DJwrath). It’s a daily candlestick chart of the second-largest Cryptocurrency, Ethereum, over the past eight months. David points out that Ethereum is breaking out to an all-time high. As you can see, it’s built a solid six-month base to launch higher from. RSI never reached oversold conditions despite tumbling 60% earlier this year, which can only be interpreted as bullish. Now that it’s in blue sky territory, there’s virtually no overhead supply preventing it from moving higher. Keep an eye on how Ethereum behaves in the near term as it looks poised to make a new leg higher.
Quote of the Day
“Wrinkles will only go
where the smiles have been.”
– Jimmy Buffett
Top Links
November’s First Trading Day: DJIA Up Over 1% Three Years in a Row – Almanac Trader
Seasonality expert, Jeff Hirsch takes a look at how stocks have historically performed on the first trading day in November.
5 Charts Goes Fixed Income – LPL Financial Research
In this quick video, Ryan Detrick & Scott Brown discuss five noteworthy charts.
What’s Moving in the Major Indices – TD Ameritrade Network
Legendary trader, Jerry Parker offers his thoughts on the current market environment.
Hang Seng Index Testing 23-Year Rising Trend Line! – Kimble Charting Solutions
Chris Kimble points out that the Hang Seng Index is at a potential long-term inflection point.
Brazillian Stocks are Getting Waxed – SentimenTrader
Jason Goepfert points out that the sell-off in Brazillian stocks could be reaching a capitulation point.
Top Tweets
Part 2: Top$SBUX pic.twitter.com/8fZkPI1YlL
— J4 (@J4_doji) October 29, 2021
You’re all caught up now. Thanks for reading!