Daily Chart Report ? Friday, June 18th, 2021

Today’s Summary
Friday, June 18th, 2021

Indices: US Stocks ended the week on a sour note, with the Dow dropping 533 points or 1.58%. The S&P 500 and Nasdaq fell 1.31% and 0.92%, respectively. The Russell 2000 underperformed dropping 2.17%.

Sectors: All 11 sectors closed lower. Consumer Discretionary led, but still slipped 0.53%. Energy lagged dropping 2.96%.

Commodities: Crude Oil futures inched higher by just 0.14% to $71.14 per barrel. Gold futures fell 0.61% to a one-month low of $1,764 per ounce.

Currencies: The US Dollar Index continued higher by 0.46%.

Interest Rates: The 10-year US Treasury yield dropped to 1.441%.

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 by Ryan Detrick (@RyanDetrick). It’s a daily candlestick chart of the S&P 500 over the past year, with several breadth metrics below. Things continue to look ugly beneath the surface of the market right now. Over the past month, the S&P 500 made a new high, and yet, fewer and fewer stocks participated in that strength. Price has begun to soften this week, but we’re still only 2% off of Monday's record highs. As Ryan notes, after a 90% rally since March 2020, it wouldn’t be surprising to see some sort of pullback or correction. Especially when you consider the S&P 500’s weak seasonal tendency around this time of year. On an optimistic note, the primary trend is still higher, and there is plenty of evidence that suggests that any short-term market weakness could prove to be a long-term buying opportunity.

Quote of the Day

“I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody.”

– James Carville