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Today’s Summary
Friday, July 15th, 2022
Indices: Russell 2000 +2.16% | Dow +2.15% | S&P 500 +1.92% | Nasdaq 100 +1.83%
Sectors: All 11 sectors closed higher. Financials led, gaining +3.38%. Utilities lagged, but still inched higher by +0.19%.
Commodities: Crude Oil futures rose +1.87% to $97.57 per barrel. Gold futures were flat and continue to trade at $1,706 per ounce.
Currencies: The US Dollar Index dropped -0.60%.
Crypto: Bitcoin rose +1.25% to $20,835. Ethereum gained +3.22% to $1,231.
Interest Rates: The US 10-year Treasury yield fell to 2.921%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
$SPY $IWM $QQQ $DIA still below last week's highs pic.twitter.com/jvUXnifLoe
— Stacey.A.Lee (@BBaxter2020) July 15, 2022
Today’s Chart of the Day was shared by Stacey Lee (@BBaxter2020). The chart shows the four major index ETFs – $SPY, $QQQ, IWM and $DIA. The major indices closed nicely off their lows this week, however, Stacey points out that they still couldn’t reclaim last week’s highs. In addition, all four are still below downward sloping 10-week and 40-week moving averages. They say the trend is your friend, and right now, the trend in the major indices continues to be lower.
Quote of the Day
“The pessimist complains about the wind;
the optimist expects it to change;
the realist adjusts the sails.”
– William Arthur Ward
Trendlines Over Headlines
In this week’s episode of Trendlines Over Headlines, Howard Lindzon joins us to talk Tech Stocks, Sentiment, Crypto, Private Equity, and more. Howard is the Founder of StockTwits and Social Leverage. He’s known for his early-stage investments in companies like Robinhood, eToro, Koyfin, YCharts, Manscaped, and many more. Enjoy!
Top Links
A Shift in the Growth vs. Value Trend – Research by Potomac
Dan Russo examines several important risk ratios.
Can Oil Start to Rally? – StockCharts.com
Greg Schnell takes a look at Crude Oil and Energy Stocks.
“Show Me” Time for Bitcoin and Ethereum – All Star Charts
JC Parets points out that the two largest Cryptocurrencies are both testing crucial levels.
Top Tweets
Final heat map of the S&P 500's performance from today pic.twitter.com/nC6XQ2Nn9K
— Stock Market News (@StockMKTNewz) July 15, 2022
Big ole weekly shadow. Dragonfly doji! $SPY pic.twitter.com/GnK53Ozeg7
— Mike Zaccardi, CFA, CMT (@MikeZaccardi) July 15, 2022
Not too encouraged by oversold breadth readings noting significant deterioration in the cumulative NYSE A-D line…an analog to past bear market cycles (e.g., 2015-2016) suggests it could get back its 200-week MA #fairleadstrategies pic.twitter.com/sDLBELXYV8
— Katie Stockton, CMT (@StocktonKatie) July 15, 2022
The Energy sector is now down more from its 52-week high than the S&P 500. https://t.co/2BwFdEPMCE pic.twitter.com/sisBojxm5Q
— Bespoke (@bespokeinvest) July 15, 2022
$XLF – Still above 30 by the skin of it's teeth.
I'm not trusting it yet. pic.twitter.com/ABdcZrwZr2
— Larry Thompson, CPA (@HostileCharts) July 15, 2022
$UUP US Dollar ETF
weekly candle looks a bit toppy… pic.twitter.com/HM3JMOrD0j
— Christian Fromhertz ?? (@cfromhertz) July 15, 2022
$JNK Junk Bonds made a 5 week high this friday. I'm tracking it as a gauge for market health. Held support @ $90 & now a above its 20 DMA. New down leg of bear market will probably start here. pic.twitter.com/nWuj6pJnsd
— Victor Riesco, CMT (@Global_Trader) July 15, 2022
The 3m-10y curve is what economists look at when gauging a recession.
It is PANCAKING!
If the Fed hikes 75 in July, and 75 again is September, it should be inverted in two months, if not earlier. pic.twitter.com/4ZCVY6i66V
— Jim Bianco biancoresearch.eth (@biancoresearch) July 15, 2022
$DBC Finding support for now at the 200 day MA pic.twitter.com/DRFESJ4B6l
— TogetherWeTrade (@TogetherWeTrad3) July 15, 2022
Humans fight over commodities, have for centuries
Let’s take a look at commodities that matter right now pic.twitter.com/HKDjom5bWD
— Rahul Chahal (@rahulchahal) July 15, 2022
Silvers been awful lately. Better dig in here if it wants to be an example in a textbook pic.twitter.com/27O2IPwaRE
— Gregory Krupinski (@G_krupins) July 15, 2022
how crazy would it be if it ended up being all about gasoline. pic.twitter.com/qovUiwe3yn
— Arun S. Chopra CFA CMT? (@FusionptCapital) July 15, 2022
You’re all caught up now. Thanks for reading!