Daily Chart Report ? Thursday, May 5th, 2022
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Today’s Summary
Thursday, May 5th, 2022
Indices: Dow -3.12% | S&P 500 -3.56% | Russell 2000 -4.04% | Nasdaq 100 -5.06%
Sectors: All 11 sectors closed lower by 1% or more. Utilities led, but still fell -1.02%. Consumer Discretionary lagged, dropping -5.60%.
Commodities: Crude Oil futures rose +0.42% to $108.26 per barrel. Gold futures gained +0.37% to $1,876 per ounce.
Currencies: The US Dollar Index had its best day in nearly two years, rising +1.01%.
Crypto: Bitcoin tumbled -8.30% to $36,390. Ethereum dropped -6.75% to $2,740.
Interest Rates: The US 10-year Treasury yield rose to its highest level since 2018 at 3.040%.
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 Michael Santoli (@michaelsantoli). It's a chart of the S&P 500 since Monday. It's been a choppy week to say the least. The S&P 500 rose 2.99% yesterday marking its best day in nearly two years, however, those gains were more than erased today with the index dropping 3.56%. Despite today's broad sell-off the S&P 500 is still positive on the week by 0.36%. The past three Fridays have been ominous with the index closing at the lows of the week. If we do close the week lower tomorrow, it will be the first five-week losing streak in over a decade (June 2011).
Quote of the Day
"No matter what side of the argument you are on, you always find people on your side that you wish were on the other."
- Thomas Berger
Top Links
Bulls Bloom - Bespoke
Bespoke breaks down the results of the most recent AAII Sentiment Survey.
1970 All Over Again? - Almanac Trader
Seasonality expert, Jeff Hirsch highlights the similarities between this year and 1970.
This is Where Dragons Lurk - The Irrelevant Investor
Michael Batnick shares some thoughts on the recent volatility.
Is There a Stronger Trend Than the US Dollar? - All Star Charts
The team at All Star Charts takes a look at the breakout in the US Dollar and what it could mean for other asset classes.
Top Tweets
You’re all caught up now. Thanks for reading!