Daily Chart Report ? Thursday, April 28th, 2022
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Today’s Summary
Thursday, April 28th, 2022
Indices: Nasdaq 100 +3.48% | S&P 500 +2.47% | Dow +1.85% | Russell 2000 +1.80%
Sectors: All 11 sectors closed higher. Tech led, bouncing +4.00%. Utilities lagged but still gained +1.11%.
Commodities: Crude Oil futures rose +3.12% to $105.20 per barrel. Gold futures gained +0.33% to $1,886 per ounce.
Currencies: The US Dollar Index rose for the sixth consecutive day by +0.66% to a 20-year high.
Crypto: Bitcoin moved higher by +1.74% to $39,950 Ethereum gained +2.17% to $2,952.
Interest Rates: The US 10-year Treasury yield inched lower to 2.826%.
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 Yuriy Matso (@yuriymatso). It’s a 4-hour candlestick chart of S&P 500 futures year-to-date. Yuriy points out that the S&P 500 has formed a well-defined trading range over the past three months. We bounced exactly where we needed to today at the lower bounds of the range around 4100. This level needs to continue holding in the near term or it could get ugly. However, as long as we’re above that level, the next major objective will be the top end of the range around 4600.
Quote of the Day
“Markets give you a lot of information if you’re willing to listen.”
– Frank Teixeira
Top Links
S&P 500 Down Year-To-Date and Down In April Preceeded Year Loss 69.2% of Time – Almanac Trader
Jeff Hirsch examines how the S&P 500 has historically performed when it has been down in April and year-to-date.
Which Stocks in the DOW are Worth Holding? – StockCharts.com
Julius de Kempenaer analyzes the strongest and weakest stocks in the Dow Jones Industrial Average.
US Dollar On Breakout Alert: Will 3rd Time Be A Charm? – Kimble Charting Solutions
Chris Kimble points out that the US Dollar Index is attempting to break above multi-year resistance.
Stock Market Analysis April 28, 2022 – AlphaTrends
In this quick video, Brian Shannon breaks down recent price action and lays out some key levels to watch in the near term.
Breadth Declines Abound – Potomac Fund Management
Dan Russo shares his weekly breadth analysis.
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!