Daily Chart Report ? Thursday, March 17th, 2022
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Today’s Summary
Thursday, March 17th, 2022
Indices: Russell 2000 +1.69% | S&P 500 +1.23% | Dow +1.23% | Nasdaq 100 +1.16%
Sectors: All 11 sectors closed higher. Energy led, gaining +3.44%. Utilities lagged but still rose +0.42%.
Commodities: Crude Oil futures gained +8.35% to $102.98 per barrel. Gold futures rose +1.78% to $1,943 per ounce.
Currencies: The US Dollar Index fell -0.39%.
Crypto: Bitcoin slipped -0.43% to $40,967. Ethereum rose +1.57% to $2,818.
Interest Rates: The US 10-year Treasury yield fell for the first time in eight days to 2.174%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Doug Busch (@chartsmarter). It’s a weekly candlestick chart of Deere & Co. ($DE) over the past two years. Agriculture stocks continue to show strength. Doug points out that one of the largest of the bunch, $DE, looks poised for its next leg higher. The stock surged more than 250% off the Covid lows but has spent the past year digesting those gains. It closed above that nice round $400 number today for the first time ever, after several failed attempts in the past year. Doug also points out that $DE continues to outperform its largest competitor, $CAT. After an 11-month pause, is $DE ready to resume its long-term uptrend?
Quote of the Day
“Luck is what happens when preparation meets opportunity.”
Top Links
Finally Some Encouraging Signs – StockCharts.com
Greg Schnell highlights some of the recent bullish developments for stocks.
But Can These Improvements Be Sustained? – Potomac Fund Management
Dan Russo examines the recent improvement in breadth.
Bears Come Out of Hibernation in Spite of Rebound – Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
Is Tech Ready to Climb Higher? – HoneyStocks
Sam McCallum takes a look at a potential rebound in Tech stocks.
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Top Tweets
You’re all caught up now. Thanks for reading!
