Daily Chart Report ? Friday, June 10th, 2022
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Today’s Summary
Friday, June 10th, 2022
Indices: Nasdaq 100 -3.56% | Dow -2.73% | Russell 2000 -2.73% | S&P 500 -2.91%
Sectors: All 11 sectors closed lower. Consumer Staples led, but still fell -0.43%. Consumer Discretionary lagged, dropping -3.99%.
Commodities: Crude Oil futures fell -0.86% to $120.47 per barrel. Gold futures gained +1.23% to $1,876 per ounce.
Currencies: The US Dollar Index rose +0.85%.
Crypto: Bitcoin fell -3.16% to $29,149. Ethereum dropped -6.29% to $1,675.
Interest Rates: The US 10-year Treasury yield rose to its highest level since 2018 at 3.159%.
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 Rob Moreno (@rightviewrob). From top to bottom, we’re looking at weekly candlestick charts of the Dow, S&P 500, and Nasdaq. Rob points out that all three of these major indexes have formed a bearish reversal pattern known as an “evening star.” The evening star pattern consists of three candlesticks – the first candle is a large-bodied white candlestick. The second is a Doji candlestick, which symbolizes indecision. The third is a large-bodied red candle, representing a resolution to the downside. Unfortunately for the bulls, this pattern suggests continued weakness in the coming weeks.
Quote of the Day
“The stock market is the only market where things go on sale and all the customers run out of the store.”
– Cullen Roche
Top Links
Dow Down Baby – The Chart Report
In this quick video, Steve Strazza and I recap some of the most significant technical developments from this past week.
The Generals – East Coast Charts
Louis Spector checks up on the 10 largest stocks in the S&P 500.
One Chart to Rule Them All – StockCharts.com
David Keller examines the outlook for the S&P 500.
Stock Market Analysis for Week Ending June 10, 2022 – AlphaTrends
Brian Shannon lays out some key levels to keep an eye on next week.
Top Tweets
Chinese stocks bucking the trend this week pic.twitter.com/orV7yjtdqn
— Jared Blikre (@SPYJared) June 10, 2022
You’re all caught up now. Thanks for reading!