Daily Chart Report ? Monday, February 28th, 2022
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Today’s Summary
Monday, February 28th, 2022
Indices: Russell 2000 +0.35% | Nasdaq 100 +0.34% | S&P 500 -0.24% | Dow -0.49%
Sectors: 4 of the 11 sectors closed higher. Energy led, gaining +2.47%. Real Estate lagged, falling -1.72%.
Commodities: Crude Oil futures rose +4.51% to $95.72 per barrel. Gold futures rose +0.69% to $1,901 per ounce.
Currencies: The US Dollar Index rose +0.21%.
Crypto: Bitcoin rose +14.40% to $43,216.05. Ethereum rose +11.72% to $2,907.90.
Interest Rates: The US 10-year Treasury yield dropped to 1.827%
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Christian Fromhertz (@cfromhertz). It’s a ratio chart of the Russell 2000 vs. the S&P 500 over the past year ($IWM/$SPY). The S&P 500, Dow, and Nasdaq all fell more than 3% in February, however, the Russell 2000 managed to close higher by about 1%. Small-Caps have been underperforming Large-Caps for nearly a year now, but this was the best month for the Russell 2000 vs. the S&P 500 since January 2021. As we know, Small-Caps tend to lead the broader market higher or lower. They’re perceived as risker and more aggressive than their Large-Cap peers, so their relative performance serves as a good barometer for risk appetite. When Small-Caps are outperforming, it’s a sign that market participants have a healthy appetite for risk. When they’re underperforming, like they have been for the past year, it suggests a lack of risk appetite. This is an encouraging start for Small-Caps, but bulls want to see them continue to outperform.
Quote of the Day
“A mistake is when you don’t follow your rules. If you don’t have rules in trading, everything you do is a mistake.”
– Van K. Tharp
Top Links
S&P 500 Up 71.4% of Time on First Trading Day of March – Almanac Trader
Jeff Hirsch examines how the major indices have historically performed on the first trading day in March (tomorrow).
5 Things to Pay Close Attention to This Week – PFT Trading
Greg Rieben highlights five charts to watch this week.
3 Uptrends Worth Watching – All Star Charts
JC Parets takes a look at three noteworthy charts to keep an eye on.
Bond Spreads Are Widening – Andrew Thrasher
Andrew Thrasher examines some signs of caution in the fixed income market.
Wild Thing – The Weekly Trend
In this podcast, David Zarling, Ian McMillan, and Dan Gorghuber discuss some of the most noteworthy technical developments.
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Top Tweets
You’re all caught up now. Thanks for reading!
