Daily Chart Report ? Monday, March 21st, 2022
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Today’s Summary
Monday, March 21st, 2022
Indices: S&P 500 -0.04% | Nasdaq 100 -0.31% | Dow -0.58% | Russell 2000 -0.97%
Sectors: 2 of the 11 sectors closed higher. Energy led by a wide margin, gaining +3.05%. Communications lagged, falling -1.19%.
Commodities: Crude Oil futures gained +6.67% to $109.97 per barrel. Gold futures were unchanged and continue to trade around $1,929 per ounce.
Currencies: The US Dollar Index rose +0.25%.
Crypto: Bitcoin was flat at $41,220. Ethereum rose +1.80% to $2,913.
Interest Rates: The US 10-year Treasury yield jumped to a fresh high of 2.295%.
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 Grant Hawkridge (@granthawkridge). It’s a daily candlestick chart of the S&P 500. One month ago, everyone and their mother was concerned over a textbook Head & Shoulders top that had formed. We explained that patterns often fail when they become this obvious. The S&P 500 did break the neckline at the end of February, but the pattern was invalidated last week when we reclaimed 4300. As Grant points out, there’s bullish information to be gleaned from the fact that this bearish pattern failed to do what it was supposed to.
Quote of the Day
what we don’t know is an ocean.”
Top Links
Three Things That Happened Last Week That Have Bulls Smiling – LPL Financial Research
The team at LPL Financial Research highlights a few bullish developments for Stocks.
Price Levels of Interest for Gold, Silver, & The Miners – PFT Trading
Greg Rieben outlines some key levels in the Precious Metals space.
Data Mining – The Weekly Trend
In this podcast, David Zarling, Ian McMillan and Dan Gorghuber discuss some noteworthy technical developments across the markets.
The Worst Run For Bonds Since 1980 – The Irrelevant Investor
Michael Batnick examines the weakness in Bonds.
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Top Tweets
You’re all caught up now. Thanks for reading!
