Daily Chart Report ? Tuesday, January 25th, 2022
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Today’s Summary
Tuesday, January 25th, 2022
Indices: Dow -0.19% | S&P 500 -1.22% | Nasdaq -2.28% | Russell 2000 -1.45%
Sectors: 2 of the 11 sectors closed higher. Energy led by a wide margin, gaining 3.87%. Tech lagged, falling 2.31%.
Commodities: Crude Oil futures rose 2.75% $85.60 per barrel. Gold futures rose 0.59% to $1,853 per ounce.
Currencies: The US Dollar Index rose 0.10%.
Interest Rates: The US 10-year Treasury yield inched lower to 1.771%
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Alfonso Depablos (@AlfCharts). It's a ratio chart of the S&P 500 vs. Gold over the past four years ($SPY/$GLD). Last week, we discussed how Gold was beginning to wake up from the dead. $GLD is up about 1% year-to-date, while $SPY is down about 8.5% over the same period. Alfonso points out this ratio is currently retesting the former highs. Stock market bulls would like to see the ratio bounce at this level. On the other hand, Gold bugs would like to see the ratio breakdown at this level. The outcome of this test will tell us which asset is likely to outperform. Either way, we'll probably find out soon, so keep an eye on how this test plays out.
Above the former highs = Stocks > Rocks
Below the former highs = Rocks > Stocks
Quote of the Day
Top Links
Another Jump in Stocks Cut in Half - SentimenTrader
Jason Goepfert points out that 42% of Stocks in the Nasdaq Composite have been cut in half (as of Friday).
Stocks Stage and Extraordinary Comeback, But What Comes Next? - LPL Financial Research
The team at LPL Financial Research takes a look at how the S&P 500 has historically performed after falling below its 200-day moving average.
Semis Slide Below 200-Day - Bespoke
Bespoke points out that the Semiconductor Index, $SOX, is trading below its 200-day moving average for the first time since Spring 2020.
Are We Washed Out Yet? - Potomac Fund Management
In this quick video, Dan Russo and Drew Wells break down six noteworthy charts in six minutes.
This is Normal - A Wealth of Common Sense
Ben Carlson examines the frequency and magnitude of stock market corrections.
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Top Tweets
this is the other one. If the Nasdaq is below those July/October, there's nothing to talk about from the long side pic.twitter.com/MLpzTSqkI3
— J.C. Parets (@allstarcharts) January 25, 2022
You’re all caught up now. Thanks for reading!
