Daily Chart Report ? Wednesday, April 27th, 2022
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Today’s Summary
Wednesday, April 27th, 2022
Indices: S&P 500 +0.21% | Dow +0.19% | Nasdaq 100 -0.05% | Russell 2000 -0.34%
Sectors: 5 of the 11 sectors closed higher. Materials led, gaining +1.48%. Communications lagged, dropping -2.23%.
Commodities: Crude Oil futures rose +0.39% to $102.10 per barrel. Gold futures fell -0.94% to $1,886 per ounce.
Currencies: The US Dollar Index rose for the fifth consecutive day by +0.69% to a five-year high.
Crypto: Bitcoin moved higher by +2.64% to $39,162. Ethereum dropped +2.10% to $2,870.
Interest Rates: The US 10-year Treasury yield rose to 2.834%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day comes from Jeff Hirsch (@AlmanacTrader). The chart shows how the S&P 500 has historically performed in Midterm Election Years. The S&P 500 is currently down more than 12% YTD, marking one of the worst starts to a year. The bad news for the bulls is that seasonality usually peaks right about now, and doesn't improve until around November. If stocks couldn't even rally when seasonality was a tailwind these last few months, how will they perform when seasonality becomes a headwind over the next six months? For more on seasonality and the Presidential Cycle, check out this article.
Quote of the Day
"You don’t need analysts in a bull market,
and you don’t want them in a bear market."
- Gerald Loeb
Top Links
A Closer Look At The Stock Market Sell-Off - LPL Financial Research
The team at LPL Financial Research puts this recent sell-off into perspective.
Welcome to the Weak Spot of the 4-Year Cycle - Almanac Trader
Seasonality expert, Jeff Hirsch explains that the next two quarters have historically been the weakest spot of the 4-year Presidential Cycle.
Looking Out Over the Edge of the Cliff - Potomac Fund Management
Dan Russo highlights some ket takeaways from the current market environment.
VIX Call Buying Could Signal More Choppiness to Come - Schaeffer's Investment Research
Rocky White points out that the S&P 500 tends to struggle when VIX call buying spikes.
Are Semiconductors Breaking Down From Historic Momentum Peak? - Kimble Charting Solutions
Chris Kimble shows that Semiconductors continue to look vulnerable.
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Top Tweets
You’re all caught up now. Thanks for reading!