Daily Chart Report ? Tuesday, April 5th, 2022
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Today’s Summary
Tuesday, April 5th, 2022
Indices: Dow -0.80% | S&P 500 -1.26% | Nasdaq 100 -2.24% | Russell 2000 -2.36%
Sectors: 4 of the 11 sectors closed higher. Utilities led, gaining +0.63%. Consumer Discretionary lagged, dropping -2.34%.
Commodities: Crude Oil futures moved lower by -1.28% to $101.96 per barrel. Gold futures fell -0.34% to $1,928 per ounce.
Currencies: The US Dollar Index rose +0.50% to its highest in nearly two years.
Crypto: Bitcoin slipped -1.46% $45,918. Ethereum fell -2.02% to $3,450.
Interest Rates: The US 10-year Treasury yield rose to its highest level in nearly three years at 2.554%.
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 Steve Strazza (@sstrazza). It's a chart of the Dow Transportation Average (black) and the Semiconductor Index (blue) over the past 11 months. Several bellwether industry groups have been notably underperforming in recent weeks. It's not just Transports and Semis, but other key areas like Homebuilders and Banks are also showing significant weakness. These economically-sensitive industry groups often lead the broader market higher or lower. Both Old-School and New-School Dow Theorists would agree that this is a sign of caution for the broader market.
Quote of the Day
"The fact is that significant market trends develop over a period of months, not days."
- Richard Russell
Top Links
A Pretty Clear Message From Dow Theory - StockCharts.com
Julius de Kempenaer examines the three major Dow Indices - Industrials, Transports, and Utilities.
Treasury Bond ETF (TLT) Teetering After Worst 2-Years in History - Kimble Charting Solutions
Chris Kimble points out that the Treasury Bond ETF, $TLT, is testing an 18-year rising trendline.
It's All About the Bond Market | Who Charted? - Potomac Fund Management
In this video, Dan Russo and Drew Wells highlight six charts in six minutes.
What the Yield Curve is, and isn't, Signaling... Yet - LPL Financial Research
The team at LPL Financial Research shares their perspective on the yield curve.
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You’re all caught up now. Thanks for reading!
