Daily Chart Report ? Thursday, June 23rd, 2022
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Today’s Summary
Thursday, June 23rd, 2022
Indices: Nasdaq 100 +1.47% | Russell 2000 +1.27% | S&P 500 +0.95% | Dow +0.64%
Sectors: 7 of the 11 Sectors closed higher. Utilities led, gaining +2.35%. Energy lagged, dropping -3.71%.
Commodities: Crude Oil futures dropped -1.81% to $104.27 per barrel. Gold futures fell -0.47% $1,830 per ounce.
Currencies: The US Dollar Index rose +0.21%.
Crypto: Bitcoin moved higher by +4.24% to $20,810. Ethereum gained +8.50% to $1,138.
Interest Rates: The US 10-year Treasury yield fell to 3.091%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Bian G (@alphacharts). The chart shows the 1-year performance of Commodities ($DBC), Stocks ($SPY), and Bonds ($TLT). Commodities have been dominating Stocks and Bonds since the end of 2021, however, they’ve come under pressure recently, while Stocks and Bonds have stopped going down. The Commodities ETF, $DBC, has corrected 10% from its peak in the past nine days, putting it on track for its first down month this year. This is a meaningful change of character for what has been the leading asset class this year. As Commodities lose momentum, the question is – Will we see a rotation back into Stocks and Bonds? Or, will all three continue lower?
Quote of the Day
“The trend has vanished, killed by its discovery.”
– Benoit Mandelbrot
Top Links
Some Things are Changing | 5 Charts – LPL Financial Research
In this quick video, Ryan Detrick and Scott Brown highlight five noteworthy charts to keep an eye on.
Sentiment Worsens… Again – Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
June Conference Call: 5 Key Takeaways – All Star Charts
The team at All Star Charts highlights five noteworthy developments to watch in the coming weeks.
Are Commodities Double Topping After Historic Run? – Kimble Charting Solutions
Chris Kimble takes a look at the reversal in Commodities.
A Violent Rally In The Making? – HoneyStocks Charting
Sam McCallum shares a few charts that point to a relief rally in the near term.
Top Tweets
You’re all caught up now. Thanks for reading!