[Video] WTI Bulls Build Their Case, Fed Gives USD a Tailwind
Matt Simpson September 23, 2021 3:05 AM
Technically and fundamentally a bullish case has continued to build for both the US dollar and oil prices.
Yesterday we saw AutoZone (AZO) close to a new high in line with our bias, along with its long-term uptrend. And United Rentals (URI) has accelerated higher from its trendline, respecting the 325 support level and reviving hopes its long-term uptrend will remain intact.
S&P 500: Market Internals
S&P 500: 4395.64 (0.95%), 22 September 2021
- Energy (3.1%) was the strongest sector and Utilities (-0.106%) was the weakest
- 9 out of the 11 S&P 500 sectors closed higher
- 6 out of the 11 sectors outperformed the S&P 500
- 418 (82.77%) stocks advanced and 86 (17.03%) declined
- 65.94% of stocks closed above their 200-day average
- 76.04% of stocks closed above their 50-day average
- 24.55% of stocks closed above their 20-day average
- + 7.19% - APA Corp (US) (APA.OQ)
- + 6.84% - Devon Energy Corp (DVN.N)
- + 6.09% - MGM Resorts International (MGM.N)
- -9.12% - FedEx Corp (FDX.N)
- -8.51% - Incyte Corp (INCY.OQ)
- -3.99% - Facebook Inc (FB.OQ)
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