Daily Chart Report ? Tuesday, March 22nd, 2022
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Today’s Summary
Tuesday, March 22nd, 2022
Indices: Nasdaq 100 +1.94% | S&P 500 +1.13% | Russell 2000 +1.08% | Dow +0.74%
Sectors: 10 of the 11 sectors closed higher. Consumer Discretionary led, gaining +2.48%. Energy was the only sector that closed lower, falling -0.74%.
Commodities: Crude Oil futures fell -0.64% to $109.27 per barrel. Gold futures slipped -0.41% to $1,922 per ounce.
Currencies: The US Dollar Index inched lower by -0.06%.
Crypto: Bitcoin gained +3.77% to $42,592. Ethereum rose +3.79% to $3,001.
Interest Rates: The US 10-year Treasury yield rose to 2.384% – its highest in more than two years.
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 Aksel Kibar (@TechCharts). It’s a daily candlestick chart of the Russell 2000 over the past two years. The Russell 2000 closed at a two-month high today, but it’s approaching a cluster of resistance around 2,100. For starters, this level acted as support all throughout last year. Secondly, both the 200-day moving average and the AVWAP from the all-time high (not shown) coincide with this level. Lastly, a break above 2,100 would violate the downtrend line that has been in place for the past four months. It would be a huge win for the bulls to see the Russell 2000 break above this area of resistance, but the index has a lot to prove in the near term.
Quote of the Day
“Gentlemen who prefer bonds don’t know what they are missing.”
– Peter Lynch
Top Links
Best Performers Since the 3/14 Pivot – Bespoke
Bespoke takes a look at the best performing stocks in the S&P 1500 since last week’s low.
Another Sign of Internal Nasdaq Strength – SentimenTrader
Jason Goepfert examines a bullish signal from the McClellan Oscillator.
Is the Tide Shifting? | Who Charted? – Potomac Fund Management
In this quick video, Dan Russo and Drew Wells highlight six noteworthy charts in six minutes.
Are Steel Prices on Cusp of a Major Breakout – Kimble Charting Solutions
Chris Kimble points out that the Steel ETF, $SLX, is attempting to breakout to multi-year highs.
Aussie Rules! – All Star Charts
The team at All Star Charts takes a look at the recent action in the Aussie Dollar.
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Top Tweets
You’re all caught up now. Thanks for reading!
