Daily Chart Report ? Tuesday, February 1st, 2022
Sponsored By:
Today’s Summary
Tuesday, February 1st, 2022
Indices: Dow +0.78% | S&P 500 +0.69% | Nasdaq +0.75% | Russell 2000 +1.10%
Sectors: 8 of the 11 sectors closed higher. Energy led by a wide margin, gaining 3.56%. Utilities lagged, falling 1.33%.
Commodities: Crude Oil futures inched up 0.24% to a seven-year high of $88.36 per barrel. Gold futures rose 0.27% to $1,801 per ounce.
Currencies: The US Dollar Index dropped 0.39%.
Interest Rates: The US 10-year Treasury yield ticked higher to 1.791%
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 Frank Cappelleri (@FrankCappelleri). The S&P 500 fell 5.3% last month, marking the worst January since 2009. Frank points out that we tend to see further weakness in February after big down Januarys. The table shows all the years in which the S&P 500 dropped 4% or more in January. Of the 16 prior occurrences, the S&P 500 was down 69% of the time in February for an average loss of 1.68%. The full year was down 62% of the time for an average loss of 2.14%. Of course, anything can happen. But hopefully, this gives you an idea of what's possible and probable as we kick off the new month.
Quote of the Day
"We want to perceive ourselves as winners, but successful traders are always focusing on their losses."
- Peter Borish
Top Links
What a Big Down Month for Stocks in January Could Mean - LPL Financial Research
The team at LPL Financial Research shares some interesting stats from last month's weakness.
Nasdaq Hits the Thrusters! - StockCharts.com
Greg Schnell breaks down his short-term and long-term outlook for the Nasdaq.
Focus on the Best Relative Trends - Potomac Fund Management
Dan Russo highlights the strongest/weakest sectors of the S&P 500.
Bitcoin Oversold for a Month Straight - Bespoke
Bespoke takes a look at Bitcoin.
Bitcoin's Loss of Long-Term Momentum is Flashing a 'Sell' Signal and Suggests the Coin Could Test $27,000 as Support, Fairlead's Katie Stockton Says - Business Insider
Katie Stockton shares her outlook for Bitcoin.
Sponsored:
Top Tweets
You’re all caught up now. Thanks for reading!
