Daily Chart Report ? Tuesday, April 26th, 2022
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Today’s Summary
Tuesday, April 26th, 2022
Indices: Dow -2.38% | S&P 500 -2.81% | Russell 2000 -3.26% | Nasdaq 100 -3.87%
Sectors: Energy was the only sector that closed higher, inching up just +0.14%. Consumer Discretionary, dropping -5.06%.
Commodities: Crude Oil futures rose +3.21% to $101.70 per barrel. Gold futures gained +0.43% to $1,904 per ounce.
Currencies: The US Dollar Index continued higher by +0.56% to a fresh two-year high.
Crypto: Bitcoin dropped -5.05% to $38,392. Ethereum dropped -5.60% to $2,839.
Interest Rates: The US 10-year Treasury yield fell to 2.726%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Steve Strazza (@sstrazza). It’s a daily candlestick chart of the Nasdaq 100 ETF ($QQQ) over the past two and a half years. The Nasdaq entered into “official bear market territory” again today, down more than 20% from its all-time high. More importantly, it broke through the anchored VWAP from the COVID lows (around $318). In other words, the average buyer since this bull market began is now underwater. Caution is warranted as long as we’re below this level.
Quote of the Day
“In a correction, other people’s stocks go down. In a bear market, your stocks go down.”
– Alan Abelson
Top Links
Treasury Bond ETF (TLT) Testing Important Long-Term Price Support! – Kimble Charting Solutions
Chris Kimble points out that the popular Treasury Bond ETF, $TLT, is attempting to reverse at an important spot.
Playing the Relative Game Now – Potomac Fund Management
Dan Russo examines the strongest/weakest sectors of the S&P 500.
USD Weakness Evaporates – All Star Charts
The team at All Star Charts takes a look at the strength in the US Dollar Index.
It’s OK to be Confused Right Now – A Wealth of Common Sense
Ben Carlson weighs in on the messy market environment.
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!