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Today’s Summary
Tuesday, October 19th, 2021
Indices: Dow +0.56% | S&P 500 +0.74% | Nasdaq +0.71% | Russell 2000 +0.36%
Sectors: 10 of the 11 sectors closed higher. Health Care led, rising 1.31%. Consumer Discretionary was the only sector that closed lower, slipping 0.28%.
Commodities: Crude Oil futures rose 0.92% to $82.44 per barrel. Gold futures gained 0.27% to $1,771 per ounce.
Currencies: The US Dollar Index fell 0.16%.
Interest Rates: The US 10-year Treasury yield rose to 1.641%.
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 Frank Cappelleri (@FrankCappelleri). It’s a weekly bar chart of the Cloud Computing ETF, $SKYY, over the past year. The largest stocks in this ETF include $DOCN, $ORCL, $MDB, $VMW, and $ANET. In the note, Frank pointed out that $SKYY just broke out to an all-time high, and it’s one of the first Tech-related ETFs to do so since the September-October pullback. As you can see, it has formed a bullish Cup & Handle Pattern over the past nine months. He adds that it may be overextended in the short term given the fact that it’s up six days in a row. However, longer-term, this ETF looks poised for a new leg higher.
Quote of the Day
“Losing feels worse than winning feels good.”
– Vin Scully
Top Links
FANG+ Hits a New High With Mixed Relative Strength – Bespoke
Bespoke examines the breakout in FAANG stocks.
Stocks Never Lost After Industrial Metals Did This – SentimenTrader
Jason Goepfert takes a look at the relationship between stocks and industrial metals.
Stocks Won’t Collapse If This Happens – All Star Charts
JC Parets points out that the Consumer Discretionary sector is breaking out relative to the Consumer Staples sector.
Equity Strength Broadens; Defensive Sectors Remain Weak – Potomac Fund Management
Dan Russo shares his weekly sector analysis.
Growth Stocks Are on the Move – Fox Business News
In the back half of this clip, Andrew Thrasher offers his outlook on the market.
Top Tweets
5 days of earnings season.
5 days of S&P 500 gains.
IDK y’all, feels like the growth story is back on again ✨
— Callie Cox (@callieabost) October 19, 2021
The average year tends to make a seasonal low in late October before Santa comes to town. pic.twitter.com/y0IsJEqKs5
— Ryan Detrick, CMT (@RyanDetrick) October 19, 2021
After setting up near resistance yesterday — NYSE Composite is breaking out above 16,930 to fresh ATH's today. The next target is 17,600 at the 161.8% fib extension. $NYA pic.twitter.com/PLk30v63pu
— Matthew Timpane, CMT (@mtimpane) October 19, 2021
Kind of wild that 4 of the 11 sectors have weighting's less than 3% in the S&P 500. pic.twitter.com/bbBkxFVXPG
— Andrew Thrasher, CMT (@AndrewThrasher) October 19, 2021
There have been three major moves in the 10Y yield this year–up, down, and now up again. Currently at its highest level since May 19th. The high for the year was 1.74% on Mar 31st…not too far out of reach from here. pic.twitter.com/9wn51FCetc
— Liz Young (@LizYoungStrat) October 19, 2021
The 200 day moving average in Gold continues to be a major pain in the ass for bulls.$GC_F $GLD $GDX pic.twitter.com/EefB6YSf5t
— Greg Rieben (@gregrieben) October 19, 2021
European's celebrating all-time high #bitcoin prices.$BTC $ETH pic.twitter.com/SleFW2lmLa
— J4 (@J4_doji) October 19, 2021
$BTC pushing new closing highs on a daily time frame now. First big base coming out of the 2018-2020 consolidation. https://t.co/860OEzDT17 pic.twitter.com/qGSfjjFSA8
— Pratyush Tulsian (@PrattyCharts) October 19, 2021
Coinbase moving higher with #bitcoin prices $COIN pic.twitter.com/D5Ki95Jiay
— J.C. Parets (@allstarcharts) October 19, 2021
Today in 1987, the #Dow had the worst one-day drop ever, crashing 508 points or nearly 23%.#HappyAnniversary pic.twitter.com/HQ1NZtyusK
— Donatas Taraile (@DonatasTaraile) October 19, 2021
34 years ago today: pic.twitter.com/yQLcy0IKBQ
— Walter Deemer (@WalterDeemer) October 19, 2021
You’re all caught up now. Thanks for reading!