Daily Chart Report ? Monday, April 4th, 2022
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Today’s Summary
Monday, April 4th, 2022
Indices: Nasdaq 100 +2.01% | S&P 500 +0.81% | Dow +0.30% | Russell 2000 +0.21%
Sectors: 5 of the 11 sectors closed higher. Communications led, gaining 2.76%. Health Care lagged, falling -0.83%.
Commodities: Crude Oil futures moved higher by +4.04% to $103.28 per barrel. Gold futures rose +0.54% to $1,934 per ounce.
Currencies: The US Dollar Index gained +0.43%.
Crypto: Bitcoin was flat and continues to trade around $46,397. Ethereum slipped -0.50% to $3,503.
Interest Rates: The US 10-year Treasury yield inched higher to 2.397%.
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 Alfonso Depablos (@AlfCharts). It's a chart of the Rare Earth Metals ETF, $REMX, over the past decade. Metal-related ETFs have been breaking out left and right in 2022, and this one is another one to add to the list. Alfonso points out that $REMX broke out to an 8-year high today. It surged more than 400% off of the Covid-lows but has spent the past few months digesting those gains. After a healthy pause, could $REMX be ready for another leg higher?
Quote of the Day
"In many ways, the stock market is like the weather in that if you don't like the current conditions, all you have to do is wait a while."
- Lou Simpson
Top Links
First Quarter Recap - State of the Market - Means to a Trend
Austin Harrison takes a look at how the major asset classes performed in Q1 and what could be next.
5 Charts to Pay Close Attention to This Week - PFT Trading
Greg Rieben highlights five charts to keep an eye on this week.
Fibonacci at Work on Major US Equity Indices - Hedgopia
Hedgopia points out that the major stock market indices are currently battling it out at key Fibonacci levels.
Make or Break Week - Potomac Fund Management
Dan Russo shares some key themes to watch in the near term.
March Madness - The Weekly Trend
In this podcast, Ian McMillan and Dan Gorghuber discuss some of the most noteworthy technical developments across the markets.
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You’re all caught up now. Thanks for reading!
