Daily Chart Report ? Wednesday, March 9th, 2022
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Today’s Summary
Wednesday, March 9th, 2022
Indices: Nasdaq 100 +3.58% | Russell 2000 +2.71% | S&P 500 +2.57% | Dow +2.00%
Sectors: 9 of the 11 sectors closed higher. Technology led, bouncing +3.96%. Energy lagged by a notable margin, dropping -3.06%.
Commodities: Crude Oil futures tumbled -12.13% to $108.70 per barrel, after hitting their highest level in more than a decade yesterday. Gold futures dropped -2.70% to $1,988 per ounce.
Currencies: The US Dollar Index dropped -1.09%.
Crypto: Bitcoin jumped +8.27% to $41,960. Ethereum gained +5.86% to $2,728.
Interest Rates: The US 10-year Treasury yield rose to 1.927%.
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 Shane Murphy (@murphycharts). It’s a daily candlestick of the Energy sector over the past six years. The Energy sector is up more than 35% year-to-date, making it the best performing sector by a mile. It hit a seven-year high yesterday, before reversing hard today around $585 ($79 in $XLE). This level acted as resistance five times between 2016-2018. Will the sixth time be the charm? Or, will price continue to be rejected at this familiar level? Either way, this is a pretty important test for the best-performing sector in the S&P 500.
Quote of the Day
“What’s past is prologue.”
– William Shakespeare
Top Links
Could Peak Oil Be Happening Right Now? – Kimble Charting Solutions
Chris Kimble breaks down a long-term chart of Crude Oil.
Small-Cap Weekly – Potomac Fund Management
Dan Russo does a deep dive on Small-Caps.
Rates Hold the Line – All Star Charts
The team at All Star Charts gives an update on interest rates around the world.
13 Years After the ’09 Bottom – Bespoke
Bespoke takes a look at how stocks have performed since the 2009 low exactly 13 years ago.
The Day the Market Bottomed – The Irrelevant Investor
Michael Batnick shares some thoughts on the S&P 500 since the 2009 low.
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Top Tweets
You’re all caught up now. Thanks for reading!
