Daily Chart Report ? Wednesday, June 22nd, 2022
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Today’s Summary
Wednesday, June 22nd, 2022
Indices: S&P 500 -0.13% | Nasdaq 100 -0.16% | Dow -0.15% | Russell 2000 -0.22%
Sectors: 4 of the 11 Sectors closed higher. Real Estate led, gaining +1.62%. Energy lagged by a wide margin, dropping -4.00%.
Commodities: Crude Oil futures moved lower by -3.04% to $106.19 per barrel. Gold futures were flat (+0.06%) and continue to trade at $1,839 per ounce.
Currencies: The US Dollar Index fell -0.23%.
Crypto: Bitcoin moved lower by -2.90% to $20,100. Ethereum dropped -5.80% to $1,059.
Interest Rates: The US 10-year Treasury yield fell to 3.162%.
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 Renaissance Macro Research (@RenMacLLC). Copper has been stuck in a sideways range for over a year now. However, it’s decisively breaking the lower bounds of that range this week, closing at a fresh 52-week low today. Due to its widespread industrial uses, Copper is perceived as a leading economic indicator. While some interpret this as a sign that inflation has peaked, generally speaking, there’s nothing bullish about Copper weakness.
Quote of the Day
“Every human mind has its own peculiarities… but the stock market is the meeting of many minds, having every imaginable peculiarity.”
– G.C. Selden
Top Links
3 Reasons It Is So Bad It Is Good – LPL Financial Research
Ryan Detrick examines the bull case for Stocks.
Crude Oil is Starting to Crack – PFT Trading
Greg Rieben takes a look at the recent weakness in Crude Oil.
Nowhere to Hide as All Assets Are Fair Game for the Bears – Research by Potomac
Dan Russo highlights some key takeaways from the current market environment.
Buy Their Pain? – All Star Charts
Louis Sykes looks at two contrarian sentiment signals in the Crypto markets.
Top Tweets
Stage 6 upon us? pic.twitter.com/QqBhkVpsQZ
— David Zarling, CMT (@AdaptivCharts) June 22, 2022
You’re all caught up now. Thanks for reading!