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Today’s Summary
Wednesday, September 1st, 2021
Indices: US Stocks were mixed in today’s session. The Dow inched lower by just 48 points or 0.14%. The S&P 500 was flat (0.03%), while the Nasdaq rose 0.33% to an all-time high. The Russell 2000 outperformed, gaining 0.58%.
Sectors: 6 of the 11 sectors closed higher. Real Estate led for the third straight day, rising 1.72%. Energy lagged, falling 1.47%.
Commodities: Crude Oil futures slipped 0.41% to $68.22 per barrel. Gold futures ticked lower by just 0.10% to $1,816 per ounce.
Currencies: The US Dollar Index fell 0.14%.
Interest Rates: The 10-year US Treasury yield moved lower to 1.299%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
$NFLX weekly ? pic.twitter.com/DkIF22t48m
— BostonCharts (@bostonchaahhts) September 1, 2021
Today’s Chart of the Day was shared by BostonCharts (@bostonchaahhts). It’s a weekly candlestick chart of Netflix over the past five years ($NFLX). Netflix has been a range-bound mess since last Summer, but it’s currently attempting to break out of that range. It just booked its highest monthly close ever yesterday, and its second-highest daily close today. After more than a year of sideways price action, could the stock finally be ready to trend higher?
Quote of the Day
“Do it or don’t do it.
You will regret both.”
– Søren Kierkegaard
Top Links
Sentiment Indicators Begining to Line Up With Equity Strength – Potomac Fund Management
Dan Russo highlights some key takeaways from the current market environment.
A Sector Buy Signal with a 90% Win Rate – SentimenTader
Jason Goepfert points to a bullish breadth signal in the Financial sector.
India (INDA) Ignites – Bespoke
Bespoke analyzes the strongest/weakest international equity markets.
Is Junk Bonds (JNK) Poor Performance A Red Flag For Investors? – Kimble Charting Solutions
Chris Kimble takes a look at what Junk Bonds could be signaling for the broader market.
Momentum, Breadth & Seasonality w/ Ed Clissold, Chief U.S. Strategist at Ned Davis Research – Technical Analysis Radio
In this podcast, JC Parets and Ed Clissold of Ned Davis Research discuss their tricks and tools for gauging the markets.
Top Tweets
S&P 500 up >20% YTD at the end of Aug. What's next?
Higher 6 out of 7 times, with only 1987 in the red. pic.twitter.com/A0NdDVvUIn
— Ryan Detrick, CMT (@RyanDetrick) September 1, 2021
Yes, stocks have done well this year.
So well that the S&P is up 20% through yesterday, poised for one of the best years in history.
Momentum is working in the market’s favor, and it *usually* means a smooth end to the year. pic.twitter.com/lgLCSn3cpu
— Callie Cox (@callieabost) September 1, 2021
A few of my favorite studies now that August is in the books:
First, the S&P 500 pushed its monthly winning streak to 7.
Here are all priors.
T+5 months later has never seen the index close lower. pic.twitter.com/dAZq4tPnoN
— Steve Deppe, CMT (@SJD10304) August 31, 2021
With August over, its a good time to take a look at seasonality. Sept is the most bearish month over the last 20 years for $SPX & played out last 3 years. On average, begins mid-month after earlier month upside as shown in chart below. As always though, price setup comes first pic.twitter.com/5uesOJiabr
— Adam Mancini (@AdamMancini4) September 1, 2021
When looking #SPX seasonal patterns it's important to recognize the average seasonal pattern is just that
Is 2021 the average, YTD?
When $SPX has gained more than 13% in first half of year (17% in 2021), September has been higher 67% of the time with a median return 1.4% pic.twitter.com/RE1DyTZsQI
— Seth Golden (@SethCL) September 1, 2021
Just a reminder that the Fed raised rates 9 times from 2015-2018. $SPY responded by gaining ~40% during that time, including one of its best stretches ever from 2016-2018. $IWM went up ~50% during that time. Not as simple as rates go up, stocks go down. https://t.co/5jdJGlQkse pic.twitter.com/f1IZFUiYOR
— Andrew Adams CFA, CMT (@DayTraderGator) September 1, 2021
Dow Jones Industry Charts: Real Estate
1. $DJUSSR Specialty REITs Index
Holy smokes. pic.twitter.com/4noSQhggPM
— Shane C. Murphy (@murphycharts) September 1, 2021
Amazon has remained above the 2903.4% Fibonacci extension level for over a year. Is it ime for a next leg higher?$AMZN pic.twitter.com/8CWsl8tIyp
— Alfonso Depablos (@AlfCharts) September 1, 2021
From an asset class perspective, commodities are in the lead through the first two-thirds of the year.
Probably not much of a comfort for those whose only commodity exposure is GLD. pic.twitter.com/51meLtC5Qj
— Willie Delwiche (@WillieDelwiche) September 1, 2021
here's my monthly gold chart for the bugs out there… my line still stands… pic.twitter.com/LYsUYySCvr
— David Cox, CMT, CFA (@DavidCoxWG) September 1, 2021
Ethereum breaking out & following through.?#Ethereum pic.twitter.com/4LvP5C8Lnm
— Greg Rieben (@gregrieben) September 1, 2021
Monthly.ETH pic.twitter.com/xYayVmaD6b
— J.C. Parets (@allstarcharts) September 1, 2021
teeny tiny stocks are still in charge
YTD:
Russell Microcaps +26.3%
Russell 2000 +15.8%
S&P 500 +20.5% pic.twitter.com/bEkmPZkweH— Katie Greifeld (@kgreifeld) September 1, 2021
You’re all caught up now. Thanks for reading!