Daily Chart Report ? Monday, April 18th, 2022
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Today’s Summary
Monday, April 18th, 2022
Indices: Nasdaq 100 +0.13% | S&P 500 -0.02% | Dow -0.11% | Russell 2000 -0.74%
Sectors: 5 of the 11 sectors closed higher. Energy led, rising +1.47%. Health Care lagged, falling -1.10%.
Commodities: Crude Oil futures inched higher by just +0.07% to $107.02 per barrel. Gold futures fell +0.36% to $1,982 per ounce.
Currencies: The US Dollar Index rose +0.32% to a fresh 2-year high.
Crypto: Bitcoin rose +2.76% to $40,788. Ethereum gained +1.72% to $3,040.
Interest Rates: The US 10-year Treasury yield rose to a fresh three-year high of 2.857%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Chris Ciovacco (@CiovaccoCapital). It's a ratio chart of the Energy Sector vs. the Technology Sector ($XLE/$XLK) over the past three years. Energy is by far the best-performing sector year-to-date, with a gain of 47.5%. On the other hand, Tech has been the worst-performing sector, down more than 15% year-to-date. Despite the recent weakness, Tech remains the heaviest weighted sector of the S&P 500, representing more than 26% of the index. Energy is the third-smallest sector, representing less than 5% of the S&P 500. Chris points out that Energy just broke out to a fresh 2-year high relative to Tech on a closing basis. The ratio is also above several rising moving averages ranging from the 50-day to the 250-day. In other words, the trend continues to favor Energy over Technology.
Quote of the Day
“When you feel like bragging, it's probably time to sell."
- John Neff
Top Links
The Relative Strength Strongman - HoneyStocks Charting
Sam McCallum looks at the continued relative strength in Energy and Utilities.
It's Not Quite A Bear Market Yet - TD Ameritrade Network
Legendary Turtle Trader, Jerry Parker, discusses the trends in Commodities.
An Interview with Larry McDonald | Conversations with JC Parets - All Star Charts
Larry McDonald shares his thoughts on the sell-off in Bonds.
Has the Bitcoin Bubble Burst? - StockCharts
Martin Pring offers his analysis on Bitcoin.
Tax Day - Bespoke
Bespoke examines how the S&P 500 has historically performed before and after Tax Day.
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Top Tweets
You’re all caught up now. Thanks for reading!