Tale of the Tape

Happy hump day, folks! Today we wrapped up March and Q1 2021. In honor of this special occasion, we featured some monthly and quarterly charts below. 🎉 🙌

The Nasdaq gained 1.5% and led the other major indices. The Russell 2000 rallied 1.1%, and the S&P 500 and Dow nearly finished flat. 

We should also note (for what it’s worth) that stocks slid into the close. 🙈 Here’s the 15-min chart of the S&P:

Crypto is creepin’… Bitcoin nearly broke through 60K and  Ethereum advanced ~3.5%. Will $ETH.X crack 2K next?? Place your bets… 😉

Technology was today’s strongest sector— $XLK closed at its highest price since March 17th. Can tech carry-on?

Financials and energy were the weakest sectors. $XLE and $XLF stumbled 0.7%. 

Technology, consumer discretionary, communications, healthcare, industrials, consumer staples, real estate, basic materials, and financials all closed at new monthly all-time highs. 👏 👏

**TL:DR — energy and utilities were the only sectors that didn’t close at new monthly all-time highs. 

New York legalized pot and the US Cannabis ETF $MSOS popped 7.68%. See more below.  🚬 🎉

The semiconductors surged 2.8%. Most notably, $NVDA ran 3.7% to settle at its highest price since March 2.

Tesla turned up another 5%.. but Elon’s EV maker is still 33 points off the previous week’s high. 🤷

Chewy gaped and crapped after last night’s earnings report. 💩 The stock closed up 5.39%, but $CHWY opened at 92 and flushed to 84.71. 

Oh, and a heads up, y’all! US markets are closed on Friday— we hope everyone enjoys the brief break. 🙏

Here are the closing prints: 

S&P 500	3,972	+0.36%
Nasdaq	13,246	+1.54%
Russell 2000	2,220	+1.13%
Dow Jones	32,981	-0.26%

Monthly and Quarterly Candles 🕯

As promised, here are a few monthly and quarterly candlestick charts. When in doubt, zoom out. 😉 🙏

We’ll start with the S&P 500— $SPX surged 4.24% last month and closed at a new all-time monthly high. 

Here’s its quarterly chart— the index is closing in on 4k. Did you know… it first closed above 400 on December 26, 1991? 

The Dow Jones Industrial Average dashed 6.62% last month. 🏃 Here’s the monthly: 

Big cap tech managed to bounce back in a big way. $QQQ was down nearly 7% at one point this month before closing up 1.59%. Will the Qs crumble or carry on??

Viacom and Discovery both had absurd monthly charts thanks to the tiger cub fiasco. 🐯 

Viacom vanished from the $100 club and finished below $50:

Discovery dashed to a high of $78 then dropped to $43.46:

Bitcoin bopped 30%. The crypto has rallied double-digits for 6 straight months. Omg.

Ethereum advanced ~35% in March, but stayed within February’s trading range. The crypto has cruised 1,351% in the last year. 

To close, here’s the S&P 500 YTD heat map:

 

A New Age for New York

Potheads rejoice!! Today, New York became the 16th (and second-largest) state in the US to legalize marijuna.

Under Governor Andrew Cuomo’s new legislation, adults 21+ will be able to purchase and consume the good ole mary jane. Although dispensaries aren’t open quite yet, businesses can begin selling the drug at the start of 2022.

NY also aims to award 50% of its dispensary licenses to minority or women-owned businesses, distressed farmers, disabled veterans, or applicants from communities “disproportionately impacted when marijuana was illegal.” 

Governor Cuomo commented: 

This is a historic day in New York – one that rights the wrongs of the past by putting an end to harsh prison sentences, embraces an industry that will grow the Empire State’s economy, and prioritizes marginalized communities so those that have suffered the most will be the first to reap the benefits. 

Yeah, you can’t buy the drug yet, but it is legal to consume it in public now. So if you happen to stumble upon any pot, you can enjoy it as you please! 🚬 😅

A $2 Trillion Bet on American Infrastructure

Today, President Biden revealed the $174B part of his economic package prioritizing EV infrastructure. 🔋 🇺🇸

The President wants to build 500,000 EV charging stations throughout the US by the end of 2030. His bill also incentivizes American development and adoption of electric cars— money is allocated to retool factories, boost the domestic supply of EVs, and offer tax incentives to EV owners.

Right now, there are only ~41,400 charging stations in the entire country. Not only that, less than 5,000 of those are ‘Level 3’ fast chargers capable of charging EVs to 80% in under 10 minutes.

Will this change happen lightning fast?! ⚡Only time will tell…

NFT THAT!! 🎾

Would you want to own a piece of tennis star Oleksandra Oliynykova? You heard us. 💪 🎾

Oliynkova offered up her right shoulder and arm for auction as an NFT, and she’s allowing her buyer to do whatever they want with her arm. 

The 20-year-old will even allow the buyer to tattoo her arm. Oleksandra’s only request? The tattoo can’t reference gambling… Oliynykova justified the $5,000 NFT, saying: 

I will bring your art object or message to every tennis court I play. As I am 20 years old only and my sports career is on the rise, I believe it’s [going to] be the biggest tennis location in the world.

Are billboards a thing of the past? 😂 Nobody knows.

Earnings This Week

Be sure to know when your stocks report earnings. Here’s the earnings calendar. 

Links That Don’t Suck

📈 The Osprey Bitcoin Trust ($OBTC) offers easy access to bitcoin right from your brokerage account or IRA. Check Us Out HERE.*

💞 Do What You Love

🤯 “It’s Madness That We Don’t Pay College Athletes“

🚗 The 1968 Ferves Ranger Is A Tiny Off-Roader That Is Street Legal and Ready to Hit the Trails

💡 SMAR Architecture Studio Designs Swaying Light-Up Tower for Silicon Valley

🤷 The Reformed Broker: Sorry My Family Office Crashed The Nasdaq.

🎶 Announcing Driven by Sound Documentary With Madlib and Kaytranada

🔥 If You Play With FIRE, Don’t Get Burned – Of Dollars And Data