Daily Chart Report ? Tuesday, January 11th, 2022
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Today’s Summary
Tuesday, January 11th, 2022
Indices: Dow +0.51% | S&P 500 +0.92% | Nasdaq +1.41% | Russell 2000 +1.05%
Sectors: 8 of the 11 sectors closed higher. Energy led by a wide margin, gaining 3.40%. Utilities lagged, falling 0.90%.
Commodities: Crude Oil futures gained 3.82% to a two-month high of $81.22 per barrel. Gold futures rose 1.10% to $1,819 per ounce.
Currencies: The US Dollar Index fell 0.36%.
Interest Rates: The US 10-year Treasury yield fell to 1.739%.
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 by Ryan Detrick (@RyanDetrick). The 10-year US Treasury yield has risen 5 out of the 7 trading days so far this year. There seems to be a belief that rising yields are generally bad for Stocks, but the data suggests otherwise. The table shows the S&P 500’s returns during periods in which the 10-year yield gained more than 100 basis points. As you can see, the S&P 500 tends to rise along with yields more often than not. To be fair, rising yields will likely impact which areas of the market outperform. For example, Value may begin to look more attractive than Growth. But overall, the S&P 500 tends to do just fine in an environment where the 10-year yield is rising.
Quote of the Day
“Be quick to turn bullish, but take your time turning bearish.
The market is up more than 70% of the time.”
– Larry Williams
Top Links
Why Isn’t The Stock Market Down More Right Now? – A Wealth of Common Sense
Ben Carlson examines why the major indices aren’t down more with so many stocks down double digits.
Who Charted? The Growth to Value Shift? – Potomac Fund Management
In this quick video, Dan Russo and Drew Wells break down six important charts in six minutes.
Internal Momentum Has Surged in Defensive Sectors – SentimenTrader
Jason Goepfert takes a look at the recent strength in Staples, Utilities, and Health Care.
DJIA Bullishly Erases Down Friday/Down Monday Losses – Almanac Trader
Jeff Hirsch explains why the Dow could extend its recent gains in the remainder of the week.
How Rising Rates Are Impacting Equities – TD Ameritrade Network
In this clip, Andrew Thrasher shares his thoughts on the recent volatility.
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You’re all caught up now. Thanks for reading!
