Daily Chart Report ? Friday, March 11th, 2022
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Today’s Summary
Friday, March 11th, 2022
Indices: Dow -0.69% | S&P 500 -1.30% | Russell 2000 -1.59% | Nasdaq 100 -2.13%
Sectors: All 11 sectors closed lower. Utilities led, but still fell -0.34%. Consumer Discretionary lagged, dropping -1.92%.
Commodities: Crude Oil futures rose +3.12% to $109.33 per barrel. Gold futures fell -0.77% to $1,985 per ounce.
Currencies: The US Dollar Index rose +0.61%.
Crypto: Bitcoin fell -1.81% to $38,730. Ethereum fell -1.99% to $2,556.
Interest Rates: The US 10-year Treasury yield inched higher to 1.997%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Chris Verrone of Strategas Research (@verrone_chris). It's a ratio chart of the Nasdaq vs. the S&P 500 over the past four years ($QQQ/$SPX). The Tech-heavy Nasdaq continues to struggle on an absolute and relative basis, with this ratio closing at a fresh 52-week low today. This ratio began stalling over a year ago, right near the dot-com bubble highs. Chris points out that the Nasdaq continues to look like it has formed a major long-term top relative to the S&P 500. We broke below that red support line today. If we don't reclaim that level soon, Tech/Growth will likely continue to underperform.
Quote of the Day
“Bull markets are more fun than bear markets.”
- Bob Farrell
Top Links
5 of the Most Important Charts Right Now - LPL Financial Research
Scott Brown of LPL Financial Research highlights five noteworthy charts to keep an eye on in the near term.
Bear Market Stock Market Analysis - Brian Shannon
Brian Shannon points out that the short-term trend for stocks continues to be lower.
Will Copper Join the Party? - All Star Charts
The team at All Star Charts examines the outlook for Copper.
Fill the Gap Podcast w/ Ian McMillan - CMT Association
Here's a good podcast from the CMT association with guest, Ian McMillan.
Which Energy Stocks Should You Be Watching? - StockCharts.com
Julius de Kempenaer takes a look at the strongest stocks within the Energy sector.
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Top Tweets
You’re all caught up now. Thanks for reading!
