Daily Chart Report ? Tuesday, June 7th, 2022
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Today’s Summary
Tuesday, June 7th, 2022
Indices: Russell 2000 +1.57% | S&P 500 +0.95% | Nasdaq 100 +0.89% | Dow +0.80%
Sectors: 10 of the 11 sectors closed higher. Energy led, gaining +2.99%. Consumer Discretionary was the only sector that closed lower, falling -0.25%.
Commodities: Crude Oil futures rose +0.77% to $119.41 per barrel. Gold futures gained +0.46% to $1,852 per ounce.
Currencies: The US Dollar Index inched lower by -0.08%.
Crypto: Bitcoin inched higher by +0.28% to $31,438. Ethereum fell -0.92% to $1,841.
Interest Rates: The US 10-year Treasury yield fell to 2.979%.
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 Dan Russo (@DanRusso_CMT). The chart shows the US 10-year yield (black), and the Dollar/Yen currency pair (red). The Dollar is breaking out to 20-year highs vs. the Yen this week. Dan points out that this currency pair has been a good leading indicator for 10-year yields both domestically and around the world. In a comment to The Chart Report, Dan said “If the Yen continues to weaken vs. the Dollar, I think you can expect 10-year yields to continue to rise here in the US, and around the world.”
Quote of the Day
“When the line doesn’t hold,
it’s time to fold.”
– Jay Kaeppel
Top Links
Remember June Midterm Weakness – Almanac Trader
Seasonality expert, Jeff Hirsch looks at how stocks have historically performed in June of Midterm Election years.
Brian Shannon on Bitcoin, SPY, ADI – Fox Business News
Brian Shannon shares his technical take on stocks, crypto, and more.
Silver Trying to Hold Key Price Support Level! – Kimble Charting Solutions
Chris Kimble points out that Silver is testing a key long-term support level.
Things That Make You Go HMMMMMM – Potomac Fund Management
In this video, Dan Russo and Drew Wells highlight six noteworthy charts in six minutes.
Jerry Parker (Learning from a Turtle Trader) – Against All Odds Research
Here’s a good interview with legendary Turtle Trader, Jerry Parker.
Top Tweets
You’re all caught up now. Thanks for reading!