Friday, October 15th, 2021
Indices: US Stocks ended the week on a positive note, with the Dow rising 382 points or 1.09%. The S&P 500 and Nasdaq gained 0.75% and 0.50%, respectively. The Russell 2000 notably underperformed, falling 0.37%.
Sectors: 8 of the 11 sectors closed higher. Consumer Discretionary led, rising 1.53% to a record high. Utilities lagged, slipping 0.29%.
Commodities: Crude Oil futures rose 1.19% to a seven-year high of $82.28 per barrel. Gold futures dropped 1.65% to $1,768 per ounce.
Currencies: The US Dollar Index was flat (0.03%).
Interest Rates: The US 10-year Treasury yield snapped a three-day losing streak, rising to 1.574%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
— Pratyush Tulsian (@PrattyCharts) October 15, 2021
Today’s Chart of the Day was shared by Pratty Tulsian (@PrattyCharts). It’s a weekly candlestick chart of Bitcoin over the past five years. Pratty points out that Bitcoin is on track to close at a fresh weekly all-time high. Why do we care about all-time highs? Because when price is in blue sky territory, nobody is showing a loss and there’s virtually no overhead supply to prevent it from moving significantly higher. Bitcoin peaked in April at around $63k and fell more than 50% over the next three months. That massive decline did a lot to wash out some of the frothy sentiment that existed. Since then, it’s built a solid six-month base to launch higher from.
Quote of the Day
“The hardest arithmetic to master is that which enables us to count our blessings.”
– Eric Hoffer
Confirmation from Dr. Copper – All Star Charts
The team at All Star Charts looks at the implications of rising Copper prices.
Will Crude Oil Price Breakout Signal Rising Interest Rates? – Kimble Charting Solutions
Chris Kimble examines the relationship between Crude Oil and Treasury yields.
Stock Market & Bitcoin Analysis October 15, 2021 – AlphaTrends
In this quick video, Brian Shannon reviews this week’s price action and highlights some key levels to keep an eye on.
The Link Between Commodities and the Dollar is Broken – SentimenTrader
Jason Goepfert explains that it’s rare to see Commodities and the US Dollar rally together.
10 Truths About the Stock Market – TKer
Here’s a good read from Sam Ro, in which he lays out ten facts about investing in the stock market.
— Urban Carmel (@ukarlewitz) October 15, 2021
— Bespoke (@bespokeinvest) October 15, 2021
— Mike Zaccardi, CFA, CMT (@MikeZaccardi) October 15, 2021
— Ian McMillan, CMT (@the_chart_life) October 15, 2021
— Leif Soreide (@LeifSoreide) October 15, 2021
— Willie Delwiche (@WillieDelwiche) October 15, 2021
— Liz Ann Sonders (@LizAnnSonders) October 15, 2021
Natural Gas taking a bit of a breather her but it is still trading more than 2.5std above it’s 200d MA. 63d RoC has cooled off a bit but still near 2sigma threshold. Might trade sideways or to the 50d near term but trend & momo means risk is still to upside. pic.twitter.com/YsR1j7Wvcy
— Bob Sheehan, CMT, CFA (@LighthouseCap23) October 15, 2021
A gauge of six primary metal prices traded on the London Metal Exchange has surged to a new record high. pic.twitter.com/ETciqSGrYA
— Lisa Abramowicz (@lisaabramowicz1) October 15, 2021
Big bases and empty spaces. What's better?
— Steven Strazza (@sstrazza) October 15, 2021
You’re all caught up now. Thanks for reading!