Sponsored By:
Today’s Summary
Thursday, October 28th, 2021
Indices: Dow +0.68% | S&P 500 +0.98% | Nasdaq +1.39% | Russell 2000 +2.02%
Sectors: All 11 sectors closed higher. Real Estate led, gaining 1.47%. Communications lagged but still rose 0.31%.
Commodities: Crude Oil futures moved higher by 0.63% to $83.18 per barrel. Gold futures were flat and continue to trade at $1,799 per ounce.
Currencies: The US Dollar Index dropped 0.52%.
Interest Rates: The US 10-year Treasury yield moved higher to 1.576%.
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 Jeff Hirsch (@AlmanacTrader). Jeff points out that the last 4 trading days in October and the first 3 trading days in November have a pretty bullish track record. He calls this the Halloween Trade. As you can see, the S&P 500 has only been lower 4 times in the past 27 years during this seven-day stretch. That’s an 85% win rate for an average gain of 2.08% and a median gain of 1.50%. For more on this, check out the full note here.
Quote of the Day
“We’re just enthusiastic about what we do.”
– Steve Jobs
Top Links
The Granddaddy of All Indicators Just Broke Out – SentimenTrader
Jason Goepfert points out that the NYSE Cumulative Advance/Decline line just broke out to an all-time high.
What to Expect from the S&P 500 This Season – Schaeffer’s Investment Research
Rocky White highlights the best and worst stocks to own in November-April.
Breadth Bends, But Does Not Break – Potomac Fund Management
Dan Russo shares his weekly breadth analysis.
Sentiment Steps Back – Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
A Trip Down Treasury Lane – All Star Charts
The team at All Star Charts takes a look at the recent action in US Treasury Bonds.
Top Tweets
S&P 500 closes at an all-time high for the 58th time this year. We need 20 more to break the record set in 1995 (77). $SPX pic.twitter.com/L6UOvrAxzZ
— Charlie Bilello (@charliebilello) October 28, 2021
Waiting for these heavy hitters breakout together… $DJI $DJT pic.twitter.com/BY1U5u68EE
— Grant Hawkridge (@granthawkridge) October 28, 2021
$SPX highlighting $VIX <15 regimes. Intermarket study / scenario analysis. Not a prediction. pic.twitter.com/g1yxF2Au2a
— Mark Ungewitter (@mark_ungewitter) October 28, 2021
The October rebound in the S&P 500 has been driven by a larger number of stocks, not just the mega-caps. The 20-day moving average of the number of members advancing is approaching the higher end of its 2021 range. Better breadth than much of the summer. pic.twitter.com/FcLy22dB1U
— Liz Young (@LizYoungStrat) October 28, 2021
The Stock/Bond ratio and Small Cap stocks have been in the same sideways pattern since March. The Stock/Bond ratio has recently broken higher, signaling a renewed risk-on environment. Watch our video podcast for all the details.$SPY $TLT $RUT $IWMhttps://t.co/7rc5Bin18B pic.twitter.com/E1hoKHoPTH
— Jim Denholm, CMT (@denholm_jim) October 28, 2021
Homebuilders Relative (to S&P 500) Seasonality. pic.twitter.com/Vl3RT1ibpP
— Nautilus Research (@NautilusCap) October 28, 2021
Clean Energy $ICLN is climbing, trading back above the 200-day and outperforming on the way up after bouncing off support around the ~20 level yet again.
Lotta work to do before we see new highs in this space, but the move this past month is a strong start. pic.twitter.com/pQZsmnQwmg
— Grayson Roze (@GraysonRoze) October 28, 2021
#WTI Crude Oil is recovering nicely off its intraday low below $81.00 to form a potential bullish hammer candle at trend line and 21-day EMA support pic.twitter.com/KmJb7hvTnZ
— Matt Weller CFA, CMT (@MWellerFX) October 28, 2021
Cotton futures emerging from a nice consolidation/ pennant here at the $108-110 area.$CT_F $BAL pic.twitter.com/ZK36SuaHVV
— Ian McMillan, CMT (@the_chart_life) October 28, 2021
Is oat milk that popular? #oats pic.twitter.com/cyzNWJc9VL
— Greg Rieben (@gregrieben) October 28, 2021
You’re all caught up now. Thanks for reading!