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Today’s Summary
Friday, March 26th, 2021
Indices: US Stocks ended the week on a positive note with the Dow Jones Industrial Average advancing 453 points or 1.39%. The S&P 500 and Nasdaq gained 1.66% and 1.24%, respectively. The Russell 2000 outperformed, rising 1.76%.
Sectors: 10 of the 11 sectors closed higher. Tech led, gaining 2.56%. Communications lagged for the third straight day, falling 1.09%.
Commodities: Crude Oil futures moved higher by 3.69% to $60.72 per barrel. Gold futures rose 0.38% to $1,732 per ounce.
Currencies: The US Dollar Index slipped 0.14%.
Interest Rates: The 10-year US Treasury yield moved higher to 1.672%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Boy, S&P sprinted into close – can’t say it was soft today for Friday! pic.twitter.com/Qb08sRqnlt
— James Boyd (@JBoyd_TDA) March 26, 2021
Today’s Chart of the Day was shared on Twitter by James Boyd (@JBoyd_TDA). It’s a 5-minute candlestick chart of S&P 500 futures since yesterday’s close. As James points out, the S&P 500 surged higher in the final hour of trading today, marking the strongest close since October. Not to mention, we closed at an all-time high! Ending the day/week with this sort of price action is anything but bearish. We’ll leave you with yesterday’s quote of the day from legendary tape reader Willam O’Neil – “In bear markets, stocks usually open strong and close weak. In bull markets, they tend to open weak and close strong.”
Quote of the Day
“Don’t judge each day by the harvest you reap but by the seeds that you plant.”
– Robert Louis Stevenson
Top Links
5-Chart Friday (3/26/21) – Compound
Charlie Bilello shares five interesting tidbits on the current market environment.
Where Do We (Investors) Stand – David Cox
In this quick video, David Cox highlights some noteworthy technical developments to keep an eye on.
Tech Is A Drag – StockCharts.com
Julius de Kempenaer explains that the S&P 500 will need some of its largest sectors to wake up soon.
Weekly Market Recap – Tribeca Trade Group
Christian Fromhertz recaps this week’s price action and highlights some things to focus on next week.
Media & Chinese Education Tech Carried Out On A Stretcher – Bespoke
Bespoke examines some high-flying stocks that got slaughtered this week including, $VIAC, $DISCA, $IQ, $EDU, and more.
Top Tweets
Best last hour of the trading day since October.
— Bespoke (@bespokeinvest) March 26, 2021
That ramp up into the close ??? pic.twitter.com/tlWl2HSHMw
— Fred Imbert (@foimbert) March 26, 2021
S&P 500 new all time closing high. lol. pic.twitter.com/CnYQd9Igpp
— Stage Analysis (@stageanalysis) March 26, 2021
$NQ, 5m
Back and forth is over. pic.twitter.com/q4mPiiGMHq
— Yuriy Matso (@yuriymatso) March 26, 2021
$QQQ breaks thru flat on year pic.twitter.com/5bb9rCVygu
— The Vol Plateau (@VolatilityWiz) March 26, 2021
$COMPQ Late reversal off our 1 year Support line on the Nasdaq: pic.twitter.com/cy3jLmShAf
— Leading Edge Charts (@InformedTrader) March 26, 2021
you can pretty much assume that several investors were busy capitulating their growth stocks into the lows of recent weeks before 3pm right before a major rally appeared — those that end up ranting about "the market is rigged" are the ones that sold the lows… pic.twitter.com/apKZAS1oSz
— David Cox, CMT, CFA (@DavidCoxWG) March 26, 2021
$SMH +5.02% today, putting Semis back above the 50 day with one heck of a two-session run to close out the week.
Plenty of bearish signals out there for tech, but this sure ain't one of 'em… pic.twitter.com/G5WqulTtnr
— Grayson Roze (@GraysonRoze) March 26, 2021
Remember we saw some late month selling in February and March.
The good new is April is on the horizon, which has historically been a solid month for stocks. pic.twitter.com/MMI7Jx4avX
— Ryan Detrick, CMT (@RyanDetrick) March 26, 2021
Growth still unable to stage any type of relative recovery…$MGK $MGV $SPYG $SPYV $IWO $IWN pic.twitter.com/WaR3J6d43v
— Ian McMillan, CMT (@the_chart_life) March 26, 2021
ViacomCBS, one of the top momentum names this year, is down 59% over the last 4 trading days.$VIAC
Charting via @ycharts pic.twitter.com/fjrmnkVHhq
— Charlie Bilello (@charliebilello) March 26, 2021
Check out my technical analysis on the stuck boat, big breakout incoming. Should be unstuck any time now. Very bullish pic.twitter.com/u2BknxUyqT
— G. Kennedy Fuld Jr., CFA, MBA, ChEA, FRM (@MemberSee) March 25, 2021