Daily Chart Report ? Friday, January 21st, 2022
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Today’s Summary
Friday, January 21st, 2022
Indices: Dow -1.30% | S&P 500 -1.89% | Nasdaq -2.72% | Russell 2000 -1.78%
Sectors: Consumer Staples was the only sector that closed higher, inching up 0.08%. Communications lagged, dropping 3.38%.
Commodities: Crude Oil futures moved lower by 0.84% $84.83 per barrel. Gold futures fell 0.35% to $1,836 per ounce.
Currencies: The US Dollar Index slipped 0.14%.
Interest Rates: The US 10-year Treasury yield dropped to 1.762%
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 S&P 500 closed below its December 2021 low yesterday, which could spell trouble for the rest of the year. Over the past 72 years, the S&P 500 has undercut its December low within the first quarter 36 prior times. The rest of the year was a coinflip, closing positive 50% of the time for a tiny average gain of just 0.3%. On the other hand, returns were far better when the S&P 500 held its December low, with the S&P 500 closing higher 94% of the time for an average gain of 18%. Last year was a walk in the park for the S&P 500 considering it gained nearly 27% with very little downside. History is suggesting the S&P 500 is in for a much more challenging year in 2022.
Quote of the Day
Most people never listen.”
– Earnest Hemingway
Top Links
The Nasdaq Loses Key Trends as Overseas Markets Step Up – SentimenTrader
Jason Goepfert examines what has historically happened after the Nasdaq drops 10% for the first time in more than 200 sessions.
Buying Support Breaks is Not the Best Strategy – All Star Charts
JC Parets points out that several assets are breaking well-defined support levels.
The Rise of the Bears – HoneyStocks
Sam McCallum highlights some noteworthy charts to keep an eye on in the near term.
The Bears are Out | 5 Charts – LPL Financial Research
In this quick video, Ryan Detrick and Scott Brown break down five noteworthy charts.
Signs Point to a Lack of Risk Appetite – Potomac Fund Management
Dan Russo points out that several ratios are signaling a lack of risk appetite among market participants.
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Top Tweets
You’re all caught up now. Thanks for reading!
