Daily Chart Report ? Tuesday, June 28th, 2022
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Today’s Summary
Tuesday, June 28th, 2022
Indices: Dow -1.56% | Russell 2000 -1.86% | S&P 500 -2.01% | Nasdaq 100 -3.09%
Sectors: Energy was the only sector that closed higher, gaining +2.70%. Consumer Discretionary lagged, dropping -3.99%.
Commodities: Crude Oil futures moved higher by +2.00% to $111.76 per barrel. Gold futures slipped -0.20% to $1,821 per ounce.
Currencies: The US Dollar Index rose +0.52%.
Crypto: Bitcoin fell -1.48% to $20,393. Ethereum dropped -2.50% to $1,161.
Interest Rates: The US 10-year Treasury yield fell to 3.175%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Alfonso Depablos (@AlfCharts). It's a daily candlestick chart of the US 10-year Treasury Yield ($TNX), along with the Equities for Rising Rates ETF, ($EQRR). This ETF provides exposure to interest-rate-sensitive stocks. Over 50% of its weighting is in Energy & Financial stocks like Valero, M&T Bank, Marathon Petroleum, Raymond James, Exxon Mobil, and JP Morgan. Alfonso points out that this ETF has already broken down, while the 10-year yield continues to test a key level. As you can see, the two have tracked each other pretty closely in recent years. Will yields follow these rate-sensitive stocks lower?
Quote of the Day
“There are no happy endings in history,
only crisis points that pass.”
- Isaac Asimov
Top Links
Signs of a Botom - The Irrelevant Investor
Michael Batnick points out that stocks will likely bottom before the economic data.
Shorts' Relative Break - Bespoke
Bespoke examines the recent strength from some of the most heavily shorted stocks.
All Eyes on the Pre-COVID Highs - Research by Potomac
Drew Wells analyzes each of the 11 sectors of the S&P 500.
Doc Copper Pattern Suggesting Another Huge Decline Is To Be Expected? - Kimble Charting Solutions
Chris Kimble takes a look at the breakdown in Copper.
The Chart Report & Friends - What's Next for Q3?
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Top Tweets
You’re all caught up now. Thanks for reading!