Daily Chart Report ? Tuesday, February 15th, 2022
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Today’s Summary
Tuesday, February 15th, 2022
Indices: Dow +1.22% | S&P 500 +1.58% | Nasdaq +2.53% | Russell 2000 +2.76%
Sectors: 9 of the 11 sectors closed higher. Technology led, gaining 2.63%. Energy lagged, falling 1.05%.
Commodities: Crude Oil futures dropped 3.55% to $92.07 per barrel. Gold futures fell 0.71% to $1,856 per ounce.
Currencies: The US Dollar Index fell 0.32%.
Interest Rates: The US 10-year Treasury yield rose to 2.049% – its highest level since 2019.
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 in a note by Bank of America Global Research. The chart shows the S&P 500 over the past three years along with the US High Yield Options-Adjusted Spread. One of the more bearish developments over the past few weeks has been the widening of credit spreads. In the note, they explain, “The US high yield OAS is breaking out above resistance to suggest a year-long risk-off bottom for this credit spread. Deteriorating credit conditions are a bearish leading indicator, increasing the risk that the SPX completes the head and shoulders top.”
Quote of the Day
“Amateurs want to be right.
Professionals want to make money.”
– Alan Greenspan
Top Links
The S&P 500 Will Still Likely Test its January Low as Similar Stock Market Corrections Took Months to Play Out, Fairlead’s Katie Stockton Says – Business Insider
Katie Stockton shares her technical outlook on the S&P 500.
Revisiting the Biggest Winners and Losers Since the COVID Crash Low – Bespoke
Bespoke breaks down the best and worst-performing stocks in the S&P 1500 since the March 2020 low.
Leadership is Up for Grabs – Potomac Fund Management
Dan Russo examines the strongest and weakest sectors of the S&P 500.
There Aren’t Many Good Reasons to be Bullish on Bonds, Says Rennaissance Macro’s deGraaf – CNBC
In this clip, Jeff deGraaf shares his technical outlook on bank stocks and interest rates.
Will There Be a Bear Market? – StockCharts.com
In this video, Larry Williams takes a look at the bear case for stocks and the possibility of an economic recession.
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Top Tweets
You’re all caught up now. Thanks for reading!
