Daily Chart Report ? Friday, March 25th, 2022
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Today’s Summary
Friday, March 25th, 2022
Indices: S&P 500 +0.51% | Dow +0.44% | Russell 2000 +0.12% | Nasdaq 100 -0.08%
Sectors: 9 of the 11 sectors closed higher. Energy led, gaining +2.19%. Consumer Discretionary lagged, inching lower by -0.17%.
Commodities: Crude Oil futures gained +1.39% to $113.90 per barrel. Gold futures fell -0.41% to $1,954 per ounce.
Currencies: The US Dollar Index inched higher by +0.04%.
Crypto: Bitcoin rose +0.67% to $44,320. Ethereum inched lower by -0.27% to $3,104.
Interest Rates: The US 10-year Treasury yield continued higher to 2.479% – its highest in nearly three 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 Frank Cappelleri of Instinet (@FrankCappelleri). It’s a daily bar chart of Bitcoin over the past six months. Frank points out that Bitcoin is approaching an important level around $45k. Price has failed at this level three times already in 2022 – will the fourth time be the charm? Bitcoin lives and dies by momentum, and luckily for the bulls, momentum (RSI) just reclaimed that crucial 60 level. Frank notes, “This clearly is an important resistance zone, with a potential breakout targeting the 56-57k range.” Keep an eye on how this test plays out over the weekend!
Quote of the Day
“Often a sign of expertise is noticing what doesn’t happen.”
– Malcolm Gladwell
Top Links
Where’s the Strength At? – The Chart Report
Steve Strazza and I discuss some of this week’s action in Stocks, Bonds, and Crypto.
5 Energy Stocks Reached ATHs – Bespoke
Bespoke checks in on the Energy sector.
The New Growth Stocks – All Star Charts
The team at All Star Charts takes a look at the breakout in Steel and Copper stocks.
Opportunity in Cyber Stocks | 5 Charts – LPL Financial Research
The team at LPL Financial Research highlights five charts to keep an eye on in the near term.
The Renewed Rise in Bitcoin – StockCharts.com
David Keller examines the outlook for Bitcoin.
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Top Tweets
You’re all caught up now. Thanks for reading!
