Daily Chart Report ? Friday, February 25th, 2022
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Today’s Summary
Friday, February 25th, 2022
Indices: Dow +2.51% | S&P 500 +2.24% | Nasdaq +1.64% | Russell 2000 +2.25%
Sectors: All 11 sectors closed higher. Materials led, gaining 3.65%. Tech lagged, but still rose 1.36%.
Commodities: Crude Oil futures fell 0.94% to $91.94 per barrel. Gold futures fell 1.88% to $1890 per ounce.
Currencies: The US Dollar Index dropped 0.52%.
Interest Rates: The US 10-year Treasury yield inched higher to 1.969%.
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 Yuriy Matso (@yuriymatso). it's a daily candlestick chart of S&P 500 futures over the past eights months. Yuriy points out that the S&P 500 has formed a bear trap over the past three days. A bear trap, (or failed breakdown as it's also called) is when price breaks a major support level, only to quickly reclaim it. Bear traps often lead to sharp moves higher, so this is a pretty bullish setup for next week. As long as the S&P 500 is back above 4260, the bears are trapped, and the bulls are back in charge.
Quote of the Day
“Buy on the sound of cannons,
sell on the sound of trumpets.”
- Nathan Rothschild
Top Links
These Trends Deserve a Breather - All Star Charts
The team at All Star Charts explains why Commodities may be due for some pause here.
Stock Market Analysis February 25, 2022 - AlphaTrends
In this video, Brian Shannon reviews this week's price action and lays out a few levels of interest to keep an eye on next week.
Commodity Price Index Near Most Overbought Level in 45-Years! - Kimble Charting Solutions
Chris Kimble points out that the benchmark Commodity index is historically stretched from its long-term average.
Trends Remain Risk-Off but Momentum May Be Ready to Shift - Potomac Fund Management
Dan Russo breaks down several important risk ratios.
What's Next for Stocks & Commodities - The Chart Report
In case you missed it, here's a conversation I had yesterday with Ian Culley about the recent action in Stocks and Commodities.
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Top Tweets
Lower vix on lower low/retest.@BrianStutland pic.twitter.com/ImnvxQbHoq
— Arun S. Chopra CFA CMT? (@FusionptCapital) February 25, 2022
You’re all caught up now. Thanks for reading!
