Daily Chart Report ? Thursday, July 7th, 2022
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Today’s Summary
Thursday, July 7th, 2022
Indices: Russell 2000 +2.43% | Nasdaq 100 +2.16% | S&P 500 +1.50% | Dow +1.12%
Sectors: 10 of the 11 Sectors closed higher. Energy led, gaining +3.61%. Utilities was the only sector that closed lower, but just barely (-0.10%).
Commodities: Crude Oil futures bounced +4.26% to $102.73 per barrel. Gold futures inched higher by +0.18% to $1,739 per ounce.
Currencies: The US Dollar Index was flat (-0.01%).
Crypto: Bitcoin rose +5.29% to $21,633. Ethereum gained +4.46% to $1,238.
Interest Rates: The US 10-year Treasury yield rose to 3.000%.
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 Charlie Bilello (@charliebilello). Despite its name, the Wilshire 5000 actually contains about 3,6000 stocks, but it’s a much broader measure of the total stock market than the S&P 500. It fell 20.9% in the first six months of this year, marking one of the worst six-month stretches for the index in its 50-year history. On a brighter note, Charlie points out that longer-term returns have historically been positive after similar six-month declines. As you can see, the index has almost always been higher one year out, and it has always been higher 3, 5, and 10 years out. To be fair, the index continued to decline for 3-6 months before finding a bottom in a few of these scenarios, but perhaps we’re closer to the end of this decline than the beginning.
Quote of the Day
“All through time, people have basically acted the same way in the market as a result of greed, fear, ignorance, and hope.”
– Jesse Livermore
Top Links
Bulls Back Below 20% – Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
A Big Move in Biotech – PFT Trading
Greg Rieben points out that one of the weakest areas of the market has been showing relative strength over the past few weeks.
20-Year Lows for the Euro | 5 Charts – LPL Financial Research
In this video, Scott Brown highlights five noteworthy charts to keep an eye on.
Health-Care Stocks Could Do Well During Economic Contraction, Says Renaissance’s Jeff Degraaf – CNBC
In this clip, Jeff deGraaf shares his thoughts on the current market environment and explains why he thinks Health Care will outperform.
15 Reasons Why Investors are So Bearish – SentimenTrader
Jason Goepfert highlights some noteworthy stats that speak to how rare this year has been for Stocks.
Top Tweets
You’re all caught up now. Thanks for reading!