Daily Chart Report ? Friday, January 28th, 2022
Sponsored By:
Today’s Summary
Friday, January 28th, 2022
Indices: Dow +1.65% | S&P 500 +2.43% | Nasdaq +3.13% | Russell 2000 +1.93%
Sectors: 10 of the 11 sectors closed higher. Tech led, jumping 4.37%. Energy was the only sector that closed lower, falling 0.42%.
Commodities: Crude Oil futures inched higher by 0.24% to $86.82 per barrel. Gold futures fell 0.36% to $1,787 per ounce.
Currencies: The US Dollar Index was flat.
Interest Rates: The US 10-year Treasury yield fell to 1.773%
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 Jay Woods (@JayWoods3). It’s a daily candlestick chart of the S&P 500 over the past year. Despite all the volatility this week, the S&P 500 actually managed to close slightly higher on the week by 0.77%. Jay points out that we closed a hair below the 200-day moving average. We broke below it last Friday, and couldn’t close above it all week. Contrary to popular belief, the S&P 500 has performed quite well after breaking the 200-day moving average in the past. According to Schaeffer’s Investment Research, the S&P 500 has broken below its 200-day moving average 34 times since 1990. One month later, the index has historically been higher 74% of the time for an average gain of 1.80%. Check out the full backtest results here.
Quote of the Day
“I’m not predicting, I’m observing.”
– George Soros
Top Links
What Do the Charts Say About This Correction? | 5 Charts – LPL Financial Research
In this quick video, Ryan Detrick and Scott Brown highlight five noteworthy charts to keep an eye on.
DJIA & NASDAQ up 78.3% of the Time on Feb’s 1st Day Last 23 Years – Almanac Trader
Seasonality expert, Jeff Hirsch examines how the major indices have historically performed on the first trading day in February (Tuesday).
Stock Market Analysis January 28th, 2022 – AlphaTrends
Brian Shannon breaks down this week’s price action and lays out a few key levels to keep an eye on next week.
Very Subtle Signs of Life – Potomac Fund Management
Dan Russo takes a look at a few important risk ratios.
State of the Markets – All Star Charts
JC Parets gives an in-depth analysis of the current market environment.
Sponsored:
Top Tweets
You’re all caught up now. Thanks for reading!
