Daily Chart Report π Friday, April 14th, 2023
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Todayβs Summary
Friday, April 14th, 2023
Indices: S&P 500 -0.21% | Nasdaq 100 -0.23% | Dow -0.42% | Russell 2000 -0.86%
Sectors: 3 of the 11 sectors closed higher. Financial led, gaining +0.98%. Real Estate lagged, falling -1.72%.
Commodities: Crude Oil futures rose +0.44% to $82.52 per barrel. Gold futures dropped -1.92% to $2,016 per oz.
Currencies: The US Dollar Index rose +0.57% to $101.58.
Crypto: Bitcoin was flat and continues to trade at $30,445. Ethereum rose +4.31% to an 11-month high of $2,102.
Interest Rates: The US 10-year Treasury yield rose to 3.517%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Todayβs Chart of the Day was shared by Michael Turvey (@MikeTurvey_TDA) The S&P 500 rose +0.79% this week, marking its highest weekly close in nearly eight months. It actually managed to close above the January/February highs by a single point on a weekly basis but hasnβt done so on a daily basis yet. Itβs continuing to hold above its 10-week (red) and 40-week (blue) moving averages and both have begun to slope higher recently. It still hasnβt cracked 4,200 yet, which has been a brick wall of resistance for nearly a year now. Keep an eye on how the index reacts to that key level as earning season ramps up next week.
Quote of the Day
βDo what you love and success will follow. Passion is the fuel behind a successful career.β
β Meg Whitman
Top Links
Three More Bullish Signals That Bears Donβt Want to See β Carson Group
Ryan Detrick highlights three bullish developments to take note of.
First Republic and Other Banks See Large Jumps in Short Interest β Bespoke
Bespoke looks at stocks that have seen large increases in short interest in recent weeks.
Something for Everyone | Who Charted? β Research by Potomac
Dan Russo and Manish Khatta discuss several noteworthy charts to keep an eye on.
Doesnβt Have To Be An Inflation Hedge β All Star Charts
JC Parets takes a look at Gold as it attempts to break out to record highs.
Another Crypto Rollercoaster? β The Weekly Grind
Sam McCallum examines the recent bounce in Cryptocurrencies.
Trendlines > Headlines
In this weekβs episode of Trendlines over Headlines, Chris Verrone of Strategas Research joins us to share his perspective on the markets. We discuss the S&P 500, Market Leadership, Financials, Interest Rates, Gold, Crypto, and more!
https://youtu.be/U0IG-f2fhYI
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