Daily Chart Report ? Tuesday, June 21st, 2022
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Today’s Summary
Tuesday, June 21st, 2022
Indices: Nasdaq 100 +2.49% | S&P 500 +2.45% | Dow +2.15% | Russell 2000 +1.70%
Sectors: All 11 Sectors closed higher. Enegy led, gaining +4.01%. Communications lagged, but still rose +0.46%.
Commodities: Crude Oil futures moved higher by +1.42% to $109.52 per barrel. Gold futures inched lower by just -0.10% to $1,839 per ounce.
Currencies: The US Dollar Index ticked lower by just -0.05%.
Crypto: Bitcoin rose +1.16% to $20,794. Ethereum inched higher by +0.27% to $1,030.
Interest Rates: The US 10-year Treasury yield inched higher to 3.281%.
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 Sunrise Trader (@SunriseTrader). The chart shows five moving averages of the S&P 500 over the past nine months – the 10-day EMA (black), the 21-day SMA (green), the 50-day SMA (blue), the 100-day SMA (grey), and the 200-day SMA (red). The purpose of removing price from this chart is to emphasize the current trends. The S&P 500 remains stuck under all five of these moving averages despite rebounding 2.67% over the past two sessions. More importantly, all five moving averages are sloping lower. The strength over the past two days has been encouraging, however, both short-term and long-term trends remain lower.
Quote of the Day
“The music is not in the notes,
but in the silence between.”
– Wolfgang Amadeus Mozart
Top Links
And Then it Was Energy’s Turn – Bespoke
Bespoke takes a look at the drop in Energy stocks.
Beware of Summer Rally Hype, Historically the Weakest of All Four Seasons – Almanac Trader
Jeff Hirsch shows that Summer has historically been the weakest season of the year for the Dow Jones Industrial Average.
Checking in on the Worst Stocks – All Star Charts
JC Parets points out that the weakest areas of the market have stopped going down recently (Chinese Internet, Biotech, IPO stocks, and ARKK).
The Kind of Rally is so Endemic to a Bear Market – CNBC
In this clip, Jeff deGraaf shares his perspective on Energy stocks and the overall market environment.
Nothing is Immune | Who Charted? – Research by Potomac
Dan Russo and Drew Wells highlight six noteworthy charts to keep an eye on.
Top Tweets
You’re all caught up now. Thanks for reading!