Daily Chart Report ? Wednesday, June 8th, 2022
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Today’s Summary
Wednesday, June 8th, 2022
Indices: Nasdaq 100 -0.76% | Dow -0.81% | S&P 500 -1.08% | Russell 2000 -1.49%
Sectors: Energy was the only sector that closed positive, rising +0.22%. Real Estate lagged, falling -2.40%.
Commodities: Crude Oil futures rose +2.51% to $122.41 per barrel. Gold futures gained +0.19% to $1,856 per ounce.
Currencies: The US Dollar Index rose +0.21%.
Crypto: Bitcoin dropped -2.57% to $30,317. Ethereum fell -0.64% to $1,800.
Interest Rates: The US 10-year Treasury yield rose to 3.027%.
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 Ian Culley (@IanCulley). Crude Oil closed above $122 per barrel today, marking the second-highest daily close in more than a decade. It peaked exactly three months ago at around $123, and it's now attempting to clear those former highs. In a comment to The Chart Report Ian said, "If Crude breaks out of this three-month base, the next major resistance level is at the 2008 highs around $147 per barrel, which is about 20% higher from here."
Quote of the Day
"When the train leaves the station, it doesn't back up to let latecomers on. If it does, there's something wrong with the train."
- Walter Deemer
Top Links
Should You Buy a Stock After a Split? - Schaeffer's Investment Research
Rocky White examines how stocks have historically performed after splitting.
Time for a Pause in Energy? - Honey Stocks Charting
Sam McCallum outlines some potential resistance levels to be aware of in the Energy sector.
The Market Rally Won't Last and This Summer Will be Rough as the S&P 500 Could Go as Low as 3,200, Says Fairlead's Katie Stockton
Katie Stockton shares her cautious outlook on the S&P 500.
Knocking on the Door, Is Anyone Home? - Potomac Fund Management
Dan Russo highlights some key points about the current market environment.
Market's May Lows Could Be Tested in June - AlmanacTrader
Seasonality expert, Jeff Hirsch compares 2022 to 1962, 1970, and 1974.
Top Tweets
— Arun S. Chopra CFA CMT? (@FusionptCapital) June 8, 2022
You’re all caught up now. Thanks for reading!