Daily Chart Report ? Tuesday, January 4th, 2022
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Today’s Summary
Tuesday, January 4th, 2022
Indices: Dow +0.59% | S&P 500 -0.06% | Nasdaq -1.33% | Russell 2000 -0.16%
Sectors: 5 of the 11 sectors closed higher. Energy led, gaining 3.46%. Health Care lagged, falling 1.32%.
Commodities: Crude Oil futures rose 1.20% to $76.99 per barrel. Gold futures gained 0.81% to $1,815 per ounce.
Currencies: The US Dollar Index rose 0.06%.
Interest Rates: The US 10-year Treasury yield continued higher to 1.651%.
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 in a note by Brian Joyce of Nasdaq. It's a monthly chart of Growth vs. Value over the past 36 years. Growth outperformed Value for a record 5th consecutive year in 2021. The uptrend has been in place for more than 14 years now. Every year it seems we hear claims that Value will finally make a comeback, but that call has yet to materialize. Fighting trends can be a dangerous endeavor, however, Brian makes a solid argument that a reversal could be at hand. Brian explained, "The breakout in November has the potential to be what technicians refer to as a “false breakout,” which are often followed by sharp countertrend moves to the downside. Also, RSI has formed a bearish divergence, suggesting momentum is waning. It's still too early to call the death of Growth, and big ships take a long time to turn. But, one could certainly make a credible case, based on technicals, that Value's day in the sun is long overdue. Click here to read the full note.
Quote of the Day
"Although there are good and bad companies, there is no such thing as a good stock; there are only good stock prices, which come and go."
- Benjamin Graham
Top Links
When This Happened Before, Stocks Never Lost - SentimenTrader
Jason Goepfert takes a look at a recent bullish breadth thrust that triggered on the S&P 500.
The Real Story of Growth vs Value - All Star Charts
JC Parets shares his thoughts on Growth vs. Value.
Tech Will Rise as we Head into the Second Half of 2022, Says Renaissance Macro’s Jeff deGraaf - CNBC
In this clip, Jeff deGraaf discusses how higher interest rates could impact sector performance.
Is The Euro Currency Decline Over or Just Begining? - Kimble Charting Solutions
Chris Kimble points out that the Euro is at a potential long-term inflection point.
January Almanac: Typical January Weaker Last 21 Years - Almanac Trader
Seasonality expert, Jeff Hirsch examines how the major indices have historically performed in January.
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Top Tweets
20-year base...$F pic.twitter.com/v9m60UbQ8X
— J4 (@J4_doji) January 4, 2022
You’re all caught up now. Thanks for reading!
