Daily Chart Report ? Monday, March 14th, 2022
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Today’s Summary
Monday, March 14th, 2022
Indices: Dow 0.00% | S&P 500 -0.74% | Russell 2000 -1.92% | Nasdaq 100 -1.92%
Sectors: 4 of the 11 sectors closed higher. Financials led, gaining +0.64%. Energy lagged, dropping -3.68%.
Commodities: Crude Oil futures dropped -5.78% to $103.01 per barrel. Gold futures fell -1.22% to $1,961 per ounce.
Currencies: The US Dollar Index was flat (-0.04%).
Crypto: Bitcoin rose +4.13% to $39,350. Ethereum gained +2.22% to $2,571.
Interest Rates: The US 10-year Treasury yield rose to 2.138%.
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 Pratty Tulsian (@PrattyCharts). It's a daily candlestick chart of the US 10-year Treasury yield ETF, $TNX, over the past year. The 10-year yield continues to head north, reaching 2.14% today - its highest level since July 2019. It successfully retested the breakout level around 1.70% earlier this month and is already back to fresh highs. The breakout in yields continues to be one of the most significant developments we've seen this year, as higher yields have been driving the unwind in Growth/Tech stocks. It has already been brutal for Growth/Tech stocks this year, but they could continue to be under pressure if rates move higher.
Quote of the Day
"The history of markets is one of overreaction in both directions."
- Peter Bernstein
Top Links
Finding Strength in a Weak Market - Means to a Trend
Austin Harrison highlights a few pockets of strength within this weak tape.
Record Decline in Chinese Internet Stocks - Bespoke
Bespoke looks at the continued weakness in Chinese Tech stocks ($KWEB).
The Damage is Done with the Expansion in New Lows - StockCharts.com
Art Hill explains that breadth continues to be a problem.
Chop Suey - The Weekly Trend
In this podcast, David Zarling, Ian McMillan, and Dan Gorghuber discuss some of the most noteworthy technical developments across the markets.
Mixed Signals Suggest More Mess - All Star Charts
Louis Sykes gives an update on the Crypto space.
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Top Tweets
You’re all caught up now. Thanks for reading!
