Daily Chart Report ? Wednesday, June 15th, 2022
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Today’s Summary
Wednesday, June 15th, 2022
Indices: Nasdaq 100 +2.49% | S&P 500 +1.46% | Russell 2000 +1.36% | Dow +1.00%
Sectors: 9 of the 11 sectors closed higher. Consumer Discretionary led, gaining +2.81%. Energy lagged, falling -2.21%.
Commodities: Crude Oil futures dropped -3.04% to $115.31 per barrel. Gold futures rose +0.34% to $1,820 per ounce.
Currencies: The US Dollar Index dropped -0.60%.
Crypto: Bitcoin gained +2.27% to $22,600. Ethereum rose +1.92% to $1,230.
Interest Rates: The US 10-year Treasury yield dropped to 3.291%.
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 Mike Zaccardi (@MikeZaccardi). It's a daily candlestick chart of the S&P 500 ETF, $SPY, over the past year. The S&P 500 rebounded +1.43% today, snapping a brutal 5-day losing streak in which it lost -10%. However, Mike points out that the rally felt a bit lackluster. For starters, we closed -1.25% off the highs of the day. Also, we're still trapped below the May lows, which are around $390 (3,900 in the index). While today's rally was encouraging to the bulls, it did virtually nothing to improve the technical damage that has taken place recently.
Quote of the Day
"A trend is a trend is a trend. But the question is, will it bend? Will it alter its course through some unforeseen force and come to a premature end?"
- Sir Alec Cairncross
Top Links
7 Things To Know Now That The Bear Is Here - LPL Financial Research
Ryan Detrick shares some insightful stats about bear markets.
How Stocks Perform After This Rare Streak - Schaeffer's Investment Research
Rocky White examines how the S&P 500 has historically performed after three consecutive down days of 2% or more.
The Charts That Matter - HoneyStocks
Sam McCallum highlights a few noteworthy charts to keep an eye on.
Federal Reserve Raises 75bp - Stock Market Analysis June 15, 2022 - AlphaTrends
In this quick video, Brian Shannon highlights some key levels to watch in the near term.
Top Tweet
You’re all caught up now. Thanks for reading!