Daily Chart Report ? Friday, May 20th, 2022
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Today’s Summary
Friday, May 20th, 2022
Indices: Dow +0.03% | S&P 500 +0.01% | Russell 2000 -0.17% | Nasdaq 100 -0.34%
Sectors: 7 of the 11 sectors closed higher. Health Care led, gaining +1.22%. Consumer Discretionary lagged, falling -1.74%.
Commodities: Crude Oil futures rose +0.42% to $110.35 per barrel. Gold futures inched higher by +0.05% to $1,842 per ounce.
Currencies: The US Dollar Index rose +0.15%.
Crypto: Bitcoin dropped -3.13% to $29,341. Ethereum fell -2.22% to $1,972.
Interest Rates: The US 10-year Treasury yield fell to 2.785%.
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 Grant Hawkridge (@granthawkridge). The S&P 500 closed lower for the seventh consecutive week for the first time in more than 20 years. To be fair, this is really more of a fun fact, but it does speak to how rare this environment is. It has only happened three prior times, in 1970, 1980, and 2001. Two of those streaks (1970 & 2001) made it to eight consecutive weeks. The Dow is even more extreme…it’s down eight consecutive weeks for the first time since 1923! As we said, these stats really just speak to how brutal and rare this environment is. But hey, at least you’ll have some fun facts to drop on your family & friends this weekend!
Quote of the Day
“Markets rarely bottom on a Friday.”
– Jeffery Saut
Top Links
Another Down Week – The Chart Report
In this quick video, Steve Strazza and I break down this week’s price action and take a look at what could be next for the markets.
Will Gold Miners (GDX) Decline Find Support At $30? – Kimble Charting Solutions
Chris Kimble points out that Gold Miners are testing a key level.
Retail Stocks Crushed | 5 Charts – LPL Financial Research
Ryan Detrick and Scott Brown share five noteworthy charts to keep an eye on.
Commodities Press Pause – All Star Charts
The team at All Star Charts checks in on Commodities.
Bear Market? Forget Labels, Trend Remains Lower May 20, 2022 – AlphaTrends
Brian Shannon highlights some key levels to watch in Stocks and Crypto.
Top Tweets
You’re all caught up now. Thanks for reading!