Daily Chart Report ? Friday, February 4th, 2022
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Today’s Summary
Friday, February 4th, 2022
Indices: Dow -0.06% | S&P 500 +0.52% | Nasdaq +1.58% | Russell 2000 +0.57%
Sectors: 5 of the 11 closed lower. Consumer Discretionary led, gaining 2.84%. Materials lagged, falling 1.66%.
Commodities: Crude Oil futures rose 2.26% to a seven-year high of $92.31 per barrel. Gold gained 0.21% to $1,808 per ounce.
Currencies: The US Dollar Index rose 0.13%.
Interest Rates: The US 10-year Treasury yield rose to its highest level since December 2019 at 1.912%
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 Matt Petrallia (@theEquilibrium). It’s a chart of the US 10-year Treasury yield over the past year. The 10-year yield just broke out to its highest level since December 2019 at 1.912%. It spent the past three weeks consolidating above last year’s highs, but we resolved higher out of that consolidation today. At this point, we could see it test the 2% level as early as next week. We’re also seeing international yields breaking out to multi-year highs, which confirms the uptrend in US rates. This continues to be one of the more important charts to watch, as it’s been driving a lot of the rotation out of Growth stocks and into Value. If yields continue higher, we’ll likely see that rotation continue.
Quote of the Day
“Trading isn’t simple enough to be boiled down to a punchy quote.”
– Andreas Clenow
Top Links
Surely That Isn’t a Tech Chart | 5 Charts – LPL Financial Research
In this video, Ryan Detrick and Scott Brown highlight five noteworthy charts. c
February Seasonal Pattern: Sluggish Start, Mid-Month Strength, & Weakness into End – Almanac Trader
Seasonality expert, Jeff Hirsch breaks down how stocks have historically performed in February.
Get ‘Em While They’re Hot! – All Star Charts
Ian Cully takes a look at the strongest trends within Commodities.
Reduce Whipsaws and Improve Performance with a Simple Filter – StockCharts.com
Art Hill offers a simple strategy for reducing whipsaws around key levels.
Midweek Update – The Chart Report
In case you missed it, here’s a conversation I had with Steve Strazza yesterday, in which we discussed Energy Stocks, Interest Rates, and more.
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Top Tweets
You’re all caught up now. Thanks for reading!
