Daily Chart Report ? Thursday, April 21st, 2022
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Today’s Summary
Thursday, April 21st, 2022
Indices: Dow -1.05% | S&P 500 -1.48% | Nasdaq 100 -1.99% | Russell 2000 -2.29%
Sectors: All 11 sectors closed lower. Consumer Staples led, but still inched lower by -0.09%. Energy lagged, dropping -3.17%.
Commodities: Crude Oil futures rose +1.57% to $103.79 per barrel. Gold futures fell -0.38% to $1,948 per ounce.
Currencies: The US Dollar Index rose +0.28%.
Crypto: Bitcoin fell -2.50% to $40,350. Ethereum dropped -3.14% to $2,980.
Interest Rates: The US 10-year Treasury yield rose to 2.913%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by David Rath (@DJwrath). It’s a daily candlestick chart of Alphabet Inc. ($GOOGL) over the past year. The stock broke below key support around $2,500 today, closing at a 9-month low. Keep in mind that this is the largest stock in the Communications sector, which has already been plagued by the weakness in $FB and $NFLX. It’s also among the top five components in the S&P 500 and Nasdaq 100, so it’s an important piece of the puzzle. Earnings are coming up next week on Tuesday, April 26th. It would be constructive to see the $GOOGL reclaim support around $2,500, but caution is warranted as long as it’s below there.
Quote of the Day
“In bear markets, stocks usually open strong and close weak. In bull markets, they tend to open weak and close strong.”
– William O’Neil
Top Links
GOOGL on Track for $2000 Once This Support Level Breaks – StockCharts
Julius de Kempenaer points out that $GOOGL is testing a crucial level.
Sentiment Staying Pessimistic – Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
Bullish Information from Bonds – All Star Charts
The team at All Star Charts highlights a bullish message from the bond market.
Time for Travel Take Off? – HoneyStocks Charting
Sam McCallum takes a look at a few Travel related stocks that are shaping up.
May is Second Worst S&P 500 Month in Midterm Election Years – Almanac Trader
Jeff Hirsch examines how stocks have historically performed in May during midterm election years.
Join us in-person or virtually at the 49th Annual CMT Symposium on April 28th-29th in Washington D.C.
Top Tweets
You’re all caught up now. Thanks for reading!