Wednesday, October 13th, 2021
Indices: US Stocks closed higher in today’s session. The Dow was completely unchanged. The S&P 500 and Nasdaq rose 0.30% and 0.73%, respectively. The Russell 2000 gained 0.34%.
Sectors: 9 of the 11 sectors closed higher. Utilities led, gaining 1.17%. Financials lagged, falling 0.57%.
Commodities: Crude Oil futures were flat and continue to hover around $80.58 per barrel. Gold futures jumped 1.97% to $1,794 per ounce.
Currencies: The US Dollar Index dropped 0.49%.
Interest Rates: The US 10-year Treasury yield fell to 1.539%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
The Advance-Decline Line, which generated a whole bunch of negative divergences in July-August, has now managed to generate a positive divergence. pic.twitter.com/Lzs9j5696i
— Walter Deemer (@WalterDeemer) October 13, 2021
Today’s Chart of the Day was shared by Walter Deemer (@WalterDeemer). It’s a chart of the NYSE Advance-Decline Line over the past year, along with the S&P 500 below. The Advance-Decline Line is a popular breadth indicator that often leads the market higher or lower. Over the summer, the Advance-Decline line was diverging negatively from the S&P 500. A negative divergence occurs when the S&P 500 makes a new high, while the Advance-Decline Line fails to do the same. That negative divergence ended up materializing into the mild pullback that we’ve seen in recent weeks. On a brighter note, Walter points out that the Advance-Decline Line is now diverging positively. As you can see, the S&P 500 made a lower low last week, while the Advance-Decline Line made a higher low. This is just one data point to consider, but it certainly favors the bulls.
Quote of the Day
“The oldest, shortest words – ‘yes’ and ‘no’ –
are those which require the most thought.”
A Case for the Shorter Trading Day – Bespoke
Bespoke points out that the final hour of the trading day has been dismal since the start of September.
5 Charts With LPL Research | Inflation Measures are on the Move Again – LPL Financial Research
In this quick video, Ryan Detrick and Scott Brown highlight five noteworthy charts on their radar.
Energy Economies Are the International Leaders – All Star Charts
Steve Strazza explains that countries with heavy exposure to Energy are doing well.
Is A Bullish Pattern Developing For U.S. Treasury Bond Yields?!? – Kimble Charting Solutions
Chris Kimble points out that a bullish inverse head & shoulders pattern has formed in the US 30 Year Treasury yield.
Fill the Gap Episode Ten, with Special Guest Larry Berman, CMT, CFA – The CMT Association
In this podcast, Larry Berman shares some insights on his long career as a technical analyst.
15000 is the KEY level! pic.twitter.com/g14qPlHO0F
— Yuriy Matso (@yuriymatso) October 13, 2021
Options traders are betting on tech trouble.
The aggregated put/call ratio among Nasdaq 100 members is the highest it's been in over a year. pic.twitter.com/1DhHssL0sg
— SentimenTrader (@sentimentrader) October 13, 2021
— Grant Hawkridge (@granthawkridge) October 13, 2021
— Mike Zaccardi, CFA, CMT (@MikeZaccardi) October 13, 2021
Lots of press today about "dirty energy" being "punished" (whatever that means) and the promise of clean energy… As far as asset allocation goes, we're sticking with "dirty energy" for now… $XLE $PBW pic.twitter.com/EG5iqmoyjZ
— Mike Singleton, CFA (@InvictusMacro) October 13, 2021
— Greg Rieben (@gregrieben) October 13, 2021
— Brian G (@alphacharts) October 13, 2021
— Patrick Rooney (@patrickrooney) October 13, 2021
Zinc futures surged to an all-time high. Very bleak.
Makes you wonder what a life without zinc would be like. pic.twitter.com/VzuNOw5mdw
— Joe Weisenthal (@TheStalwart) October 13, 2021
You’re all caught up now. Thanks for reading!