Daily Chart Report ? Friday, February 11th, 2022
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Today’s Summary
Friday, February 11th, 2022
Indices: Dow -1.43% | S&P 500 -1.90% | Nasdaq -2.78% | Russell 2000 -1.02%
Sectors: 2 of the 11 sectors closed higher. Energy led by a wide margin, gaining 2.91%. Technology lagged, dropping 3.05%.
Commodities: Crude Oil futures rose 4.47% to a fresh seven-year high of $93.90 per barrel. Gold futures continued higher for the sixth consecutive day, rising 1.26% to $1,861 per ounce.
Currencies: The US Dollar Index rose 0.25%.
Interest Rates: The US 10-year Treasury yield dropped to 1.915%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
TToday’s Chart of the Day was shared by Brian Shannon (@alphatrends). It's a weekly candlestick of the Gold ETF, $GLD, over the past four years. Gold futures rose for the sixth straight day today, to their highest level since mid-November at $1,861 per ounce. Price spent more than a year coiling into a triangle pattern, but we resolved higher out of that pattern today. Brian points out that Gold also poked its head above the AVWAP from the July 2020 all-time highs (red), signaling buyers have regained control. Gold has been pretty lackluster relative to Stocks and other Commodities over the past couple of years. However, recent price action has been very constructive and the long-term chart continues to look bullish.
Quote of the Day
“To be successful in life, you must get in the habit of turning negatives into positives.”
- George Foreman
Top Links
Biggest Losers Bounce the Most - Bespoke
Bespoke points out that the worst-performing stocks in the Russell 1000 year-to-date have been some of the best-performing stocks since the January 27th low.
Fibonacci Strikes the S&P 500 | 5 Charts - LPL Financial Research
In this quick video, Ryan Detrick and Scott Brown highlight five noteworthy charts to keep an eye on.
Participation Grows for Commodity Stocks - All Star Charts
The team at All Star Charts explains that Commodity related stocks are beginning to participate in the Commodities bull market.
Fill the Gap Podcast Episode 14: Meb Faber, CMT - The CMT Association
Here's a good podcast with respected analyst and money manager, Meb Faber.
A Lesson in Randomness Via the Super Bowl Indicator - Schaeffer's Investment Research
With the big game on Sunday, Rocky White examines the infamous Super Bowl Indicator.
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Top Tweets
You’re all caught up now. Thanks for reading!
