Daily Chart Report 📈 Thursday, September 7, 2023

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Today’s Summary
Thursday, September 7, 2023

Indices: Dow +0.17% | S&P 500 -0.32% | Nasdaq -0.73% | Russell 2000 -0.99%

Sectors: 5 of the 11 sectors closed higher. Utilities led, rising +1.31%. Tech lagged, falling -1.45%.

Commodities: Crude Oil futures snapped a nine-day winning streak, falling -0.77% to $86.87 per barrel. Gold futures were flat at $1,943 per oz.

Currencies: The US Dollar Index rose +0.20% to a five-month high of $105.05.

Crypto: Bitcoin rose +1.93% to $26,245. Ethereum gained +0.96% to $1,648.

Interest Rates: The US 10-year Treasury yield fell to 4.248%.

Here are the best charts, articles, and ideas shared on the web today!

Chart of the Day

Today's Chart of the Day was shared by Aksel Kibar (@TechCharts). The US Dollar Index ($DXY) is on track to book an eight-week winning streak, its longest since 2014 when it rose 12 consecutive weeks. It's closed above $105 today for the first time since March, marking its highest level in nearly six months. Aksel points out that $DXY is approaching a potential inflection point around $105.5. This level acted as resistance in December, January, and March. Stock market bulls are hoping it will act as resistance once more, as Dollar strength has been a headwind for stocks and risk assets.

Short Week, But Not Short on Action - Trading Adventures
Andy Moss looks at the price action in Stocks, Bonds, and Commodities so far this week.

Crude Oil Vs Natural Gas Price: Diversification Importance - Schwab Network
Jerry Parker discusses the current trends in Commodities and Currencies.

Bulls Bounce as S&P Stumbles - Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.

Stock Market Winners and Losers - The Irrelevant Investor
Michael Batnick looks at how the components of the S&P 500 have fared since the fed backed off of QE.

Top Tweets

You’re all caught up now. Thanks for reading!