Daily Chart Report ? Thursday, February 17th, 2022
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Today’s Summary
Thursday, February 17th, 2022
Indices: Dow -1.78% | S&P 500 -2.12% | Nasdaq -2.88% | Russell 2000 -2.46%
Sectors: 2 of the 11 sectors closed higher. Consumer Staples led, gaining 0.77%. Technology lagged, falling 2.99%.
Commodities: Crude Oil futures dropped 3.87% to $90.04 per barrel. Gold futures rose 1.63% to $1902 per ounce.
Currencies: The US Dollar Index was flat (0.02%).
Interest Rates: The US 10-year Treasury yield dropped to 1.975%.
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 John Roque (@daChartLife). It’s a daily bar chart of the Russell 2000 over the past year and a half. The Russell continues to bump its head on the ceiling every time it tries to stand up. John calls it the ‘Dikembe treatment’, alluding to Dikembe Mutombo, the seven-foot NBA defender who was known for swatting down shots at the hoop. As we know, Small-Caps tend to lead the broader market higher or lower. So, this rejection continues to be a problem in the intermediate term.
Quote of the Day
“We must recognize when the odds are less in our favor and tread more carefully.”
– Howard Marks
Top Links
Strength Outside of the U.S. and the Breakout in Gold – The Chart Report
In this quick video, Steve Strazza and I discuss some of the areas of strength across the markets.
Diminishing Relative Strength for the US – Bespoke
Bespoke points out that Emerging Markets have begun to outperform US Stocks recently.
U.S. = Worst Performer in Western Hemisphere – All Star Charts
JC Parets takes a look at the strength outside of US Stocks.
Looking South for Long-Term Opportunities – SentimenTrader
Jason Goepfert examines the momentum in Brazilain stocks.
Improvements in the Small-Cap Data – Potomac Fund Management
Dan Russo shares his weekly breadth analysis.
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Top Tweets
You’re all caught up now. Thanks for reading!
