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Today’s Summary
Wednesday, March 31st, 2021
Indices: US indices closed higher in today’s session with the exception of the Dow, which slipped 85 points or 0.26%. The S&P 500 rose 0.36%, while the Nasdaq outperformed, gaining 1.54%. The Russell 2000 closed higher by 1.13%.
Sectors: 5 of the 11 sectors closed higher. Tech led, gaining 1.59%. Financials lagged, falling 0.76%.
Commodities: Crude Oil futures dropped 2.30% to $59.16 per barrel. Gold futures rebounded 1.76% to $1,716 per ounce.
Currencies: The US Dollar Index slipped 0.11%.
Interest Rates: The 10-year US Treasury yield rose to 1.744%.
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 in a note by Bespoke (@bespokeinvest). Q1 is in the books! The S&P 500 rose about 6% in Q1, while the two strongest sectors, Energy and Financials, posted impressive double-digit gains. Energy had its best quarter on record, up 30%. Financials had their 11th best quarter since 1990, rising about 16%. Bespoke examined what has historically happened to these two sectors following a large quarterly gain of 15% or more. The following quarter, Energy saw an average loss of 1.19%, while Financials saw an average gain of 6.20%. Click here to read the full note.
Quote of the Day
“Amateurs want to be right. Professionals want to make money.”
– Alan Greenspan
Top Links
Stocks Love April – LPL Financial Research
The team at LPL Financial Research examines how stocks have historically performed in April.
Tuesday Trends – Compound
Charlie Bilello highlights some noteworthy trends across the markets.
ARK Innovation ETF About to Take On Water? Dual Support Test In Play! – Kimble Charting Solutions
Chris Kimble points out that the popular ARK Innovation ETF, $ARKK, is at a potential inflection point.
Technical Analysis Meets Behavioral Finance – Standard Deviations Podcast
In this podcast, Dr. Daniel Crosby and JC Parets discuss the importance of behavioral finance.
Why Monday Was So Unusual – SentimenTrader
Jason Goepfert takes a look at an unusually weak breadth reading from Monday’s session.
Top Tweets
Is now a good time to let you know that the month of April has seen the S&P 500 close higher 14 of the last 15 years for +2.98% on average?
— Steve Deppe, CMT (@SJD10304) March 31, 2021
As we turn the page on Q1, here's how the S&P 500 does each quarter historically. pic.twitter.com/3ADdjWkmv9
— Ryan Detrick, CMT (@RyanDetrick) March 31, 2021
Quarterly gains for the S&P 500. The last bar doesn't include today. pic.twitter.com/WtumBTCRUb
— Eddy Elfenbein (@EddyElfenbein) March 31, 2021
$NQ_F peeking it's head out. Now through the DTL from the mid-February highs. Needs to hold here. $QQQ $NDX pic.twitter.com/KiuljycRm5
— Ian McMillan, CMT (@the_chart_life) March 31, 2021
Absolutely textbook strength, coming from all the right *individual* Stocks.✔️
Setups responding with precision & no hesitation – a major "tell".✔️
Just a bit more strength and this *could* be gone… perhaps through the summer.
Important to emphasize: no one is ready for it. pic.twitter.com/MpF1mfLO1S
— Macro Charts (@MacroCharts) March 31, 2021
NDX — Monthly range vs. closes. pic.twitter.com/yBI5msnZei
— Nautilus Research (@NautilusCap) March 31, 2021
Put/call ratio has been moving up of late … 5d average now at highest since November pic.twitter.com/Lqfq1ryjNx
— Liz Ann Sonders (@LizAnnSonders) March 31, 2021
Risk/reward in long bonds here is, in the words of Ferris Bueller, *so choice* $TLT pic.twitter.com/F1mujU2UvT
— Drew Wells, CMT, CIMA® (@DrewTheCharts) March 31, 2021
Gold bulls staying alive. $GLD $GC_F #Gold pic.twitter.com/753auSFrGB
— Greg Rieben (@gregrieben) March 31, 2021
One of the most important indexes in the world, the German DAX, closes the month at record highs ??$DAX pic.twitter.com/djJdZhTQpU
— R. Alfonso Depablos (@AlfCharts) March 31, 2021
BREAKING! After more than 20 years, the Dutch #AEX Index (price index) has reached a new all-time high! pic.twitter.com/NWca7VyENX
— jeroen blokland (@jsblokland) March 31, 2021
Lumber prices hit another record high, more than tripling over the last year.
According to the Fed, there's no evidence of inflation, and easy money policies must continue for a few more years. pic.twitter.com/zhgO2WCmkq
— Charlie Bilello (@charliebilello) March 31, 2021
You’re all caught up now. Thanks for reading!