Daily Chart Report ? Monday, June 13th, 2022

June 13, 2022

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Today’s Summary
Monday, June 13th, 2022

Indices: Dow -2.79% | S&P 500 -3.88% | Nasdaq 100 -4.60% | Russell 2000 -4.76%

Sectors: All 11 sectors closed lower by more than -2%. Consumer Staples led, but still fell -2.16%. Energy lagged, dropping -5.22%.

Commodities: Crude Oil futures inched higher by +0.22% to $120.93 per barrel. Gold futures dropped -2.33% to $1,832 per ounce.

Currencies: The US Dollar Index rose +0.97% to its highest level since 2002.

Crypto: Bitcoin tumbled -14.57% to $22,709. Ethereum slid -15.94% to $1,204.

Interest Rates: The US 10-year Treasury yield rose to its highest level since 2011 at 3.366%.

Here are the best charts, articles, and ideas being shared on the web today!

Chart of the Day

$JNK Bounced to the 50 DMA & now nose diving to new lows. Bonds are a much bigger deal than #btc falling appart. Big losses like this are hammering pension funds, conservative investors near or at retirement, collateral for loans, etc. pic.twitter.com/iIBVAVOfZn
— Victor Riesco, CMT (@vriesco_cmt) June 13, 2022

Today’s Chart of the Day was shared by Victor Riesco (@Global_Trader). It's a daily candlestick chart of the High Yield Bond ETF, $JNK. It was another day of indiscriminate selling. Stocks tumbled, Crypto got murdered, and even Commodities were weak. Amid the widespread selling, Victor points out that Bonds continue to be one of the most concerning areas right now. $JNK has been in free-fall over the past few sessions, suffering its worst day since March 2020 today. The weakness in Stocks and Crypto is definitely noteworthy, but the stress in the Bond Market is even more problematic right now.

Quote of the Day

"Bull markets and bear markets last long enough so that the average trader is likely to forget by the time the climax is approaching that any sort of movement is possible.”

- Philip Carret

Top Tweets

Final heat map of the S&P 500's performance from today pic.twitter.com/JJtadIxbBY
— Evan (@StockMKTNewz) June 13, 2022

That’s now -8.90% the last 3 days and when the black line touches the blue line on the chart below that’s the only precedent we have over the last 50 years. pic.twitter.com/g4QWFHSn6n
— Steve Deppe, CMT (@SJD10304) June 13, 2022

For the first time ever, the day's $SPX high has been more than 1% below the previous day's low for 2 consecutive days (same for small caps $IWM): pic.twitter.com/X7ENqjNwRo
— Optuma (@Optuma) June 13, 2022

On intraday basis, 10y Treasury yield has reached highest since 2011 pic.twitter.com/dGLq5E8x9V
— Liz Ann Sonders (@LizAnnSonders) June 13, 2022

In taking out its 2018 high, 10-year T-Note yield has surpassed the previous cycle peak for the first time in 40+ years. pic.twitter.com/FapkCmuKVS
— Willie Delwiche, CMT, CFA (@WillieDelwiche) June 13, 2022

US bond market back to its 2003-2007 range.

Worst 2-day drubbing outside of GFC and Covid Crash $AGG pic.twitter.com/QDAYx4vH4P
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) June 13, 2022

The largest High Yield bond ETF was down 3.3% today, its largest decline since March 2020. The notable thing that's been missing from this bear market has been a blowout in credit spreads & a repricing of default risk. That appears to be shifting here. $HYG

Charting via @ycharts pic.twitter.com/5HmVH3AAO4
— Charlie Bilello (@charliebilello) June 13, 2022

$SPY and $IEI: $HYG credit spreads pic.twitter.com/mbfP2I0eHL

— Bailey.Baxter2020 (@BBaxter2020) June 13, 2022

Commodities relative to a 60/40 proxy. The real question is, how long will it take investors to reconsider this asset class as viable? $DBC $AOR $SPY $AGG pic.twitter.com/D0Qut7FsAh
— Drew Wells, CMT, CIMA® (@DrewTheCharts) June 13, 2022

#Bitcoin finally resolved lower and completed a topping formation. pic.twitter.com/BVb0KPL77o
— Alfonso De Pablos, CMT (@AlfCharts) June 13, 2022

Bitcoin testing 200-wk moving average. This was support in '18 & '20, will it be again this time?$BTC #cryto #BitcoinCrash #bitcoin pic.twitter.com/JxsoA2NcgG
— Andrew Thrasher, CMT (@AndrewThrasher) June 13, 2022

#Bitcoin a definitive break. $12,000ish represents the pivot-point, liquidity breakout that is now evaporating with the Fed's attempts to snuff out inflation. See the ball, hit the ball, catch the ball... pic.twitter.com/fIIoL86sfP
— RenMac: Renaissance Macro Research (@RenMacLLC) June 13, 2022

Only 1k away ¯\_(ツ)_/¯ pic.twitter.com/65atgXifLq
— David Zarling, CMT (@AdaptivCharts) June 13, 2022

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