Daily Chart Report π Monday, July 31, 2023
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Todayβs Summary
Monday, July 31, 2023
Indices: Russell 2000 +1.09% | Dow +0.28% | S&P 500 +0.15% | Nasdaq +0.04%
Sectors: 8 of the 11 sectors closed higher. Energy led, gaining +1.90%. Health Care lagged, falling -0.77%.
Commodities: Crude Oil futures rose +1.51% to a three-month high of $81.80 per barrel. Gold futures gained +0.47% to $2,009 per oz.
Currencies: The US Dollar Index rose +0.16% to $101.86.
Crypto: Bitcoin inched lower by -0.22% to $29,214. Ethereum fell -0.30% to $1,856.
Interest Rates: The US 10-year Treasury yield inched higher to 3.965%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
Todayβs Chart of the Day was shared by Nick Reece (@nicholastreece). Gold has been perking up again, only this time, nobody seems to care. Nick points out that the number of news articles mentioning Gold (white bars) is at a decade low despite the fact that the yellow metal is less than 5% from record highs. The media has given up on Gold because it's been a case of the boy who cried wolf in recent years. It's fumbled three breakout attempts in the past three years now. Nobody knows if the fourth time will be the charm, but this lack of enthusiasm is bullish. It's also worth noting, we're entering a bullish time of year for Gold prices.
Quote of the Day
βCommon sense is not so common.β
- Voltaire
Top Links
August's First Trading Day Weak Last 25 Years - Almanac Trader
Jeff Hirsch looks at how stock have historically performed on the first trading day in August.
Weak Breadth? Not Anymore - Grindstone Intelligence
Austin Harrison looks at the recent breadth improvements.
Dogs of the Dow for the Dog Days of Summer - Bespoke
Bespoke checks in on the Dogs of the Dow strategy.
Do You Own Enough Energy? - All Star Charts
JC Parets looks at the resurgence in Energy stocks