Daily Chart Report ? Friday, February 18th, 2022
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Today’s Summary
Friday, February 18th, 2022
Indices: Dow -0.68% | S&P 500 -0.72% | Nasdaq -1.23% | Russell 2000 -0.93%
Sectors: Consumer Staples was the only sector that closed higher, inching up 0.18%. Technology lagged, falling 1.01%.
Commodities: Crude Oil futures inched higher by 0.19% to $90.21 per barrel. Gold futures inched lower by 0.12% to $1900 per ounce.
Currencies: The US Dollar Index rose 0.32%.
Interest Rates: The US 10-year Treasury yield fell to 1.934%.
**Reminder: The US Stock Market & Bond Market will be closed Monday, February 21st for Presidents' Day**
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 Gina Martin Adams (@GinaMartinAdams). It's a chart of the S&P 500 over the past seven years. Breadth has been deteriorating for nearly a year now, but it has reached a crucial level. As of today, only 43% of S&P 500 stocks are trading above their 200-day moving averages. In other words, over half of the stocks within the S&P 500 are in confirmed downtrends (as measured by the 200-day moving. average). Gina points out that 50% has been a key threshold for the index over the years, noting "Breadth has rarely broken 50% for more than a few days without a significant correction." Caution remains warranted so long as breadth is below that key 50% threshold.
Quote of the Day
“The man who reads nothing at all is better educated than the man who reads nothing but newspapers.”
- Thomas Jefferson
Top Links
Small Caps Down, Gold Up | 5 Charts - LPL Financial Research
In this video, Ryan Detrick and Scott Brown highlight five noteworthy charts.
Crude Oil Snapping a Historic Winning Streak - Bespoke
Bespoke examines how Crude Oil has historically performed after ending an eight-week winning streak.
A Winner is Emerging in the Battle for the Large-cap Trend - StockCharts.com
Arthur Hill takes a look at a bearish moving average crossover in the S&P 500 between the 5-day and 200-day moving average.
Up 7 of the Last 10 After Presidents' Day - LongerTerm Still Weak - Almanac Trader
Jeff Hirsch looks at how the major averages have performed after Presidents' Day weekend.
Strength Outside of the U.S. and the Breakout in Gold - The Chart Report
In case you missed it, here's a conversation I had with Steve Strazza yesterday, about the strength in Emerging Markets and Gold.
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You’re all caught up now. Thanks for reading!
