Daily Chart Report ? Friday, July 8th, 2022
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Today’s Summary
Friday, July 8th, 2022
Indices: Nasdaq 100 +0.14% | Russell 2000 -0.01% | S&P 500 -0.08% | Dow -0.15%
Sectors: 3 of the 11 Sectors closed higher. Health Care led, gaining +0.30%. Materials lagged, falling -0.98%.
Commodities: Crude Oil futures rose +2.01% to $104.79 per barrel. Gold futures inched higher by +0.15% to $1,742 per ounce.
Currencies: The US Dollar Index fell -0.13%.
Crypto: Bitcoin inched lower by -0.27% to $21,584. Ethereum fell -1.94% to $1,213.
Interest Rates: The US 10-year Treasury yield rose to 3.084%.
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 Arun Chopra (@FusionptCapital). It's a chart of the Wilshire 5000 since 1985, with a 10-week moving average of the percentage of bears from the AAII Sentiment Survey. Sentiment has been bearish all year, but as Arun points out, it's reaching an extreme that has only been seen two other times in the past few decades - 1991 & 2008. In a comment to The Chart Report, Arun said "What is interesting about the '91 spike in sentiment is it came a few years after a large crash ('87), much like w are seeing post the Covid crash."
Quote of the Day
“If everyone is thinking alike,
then somebody isn't thinking.”
- George S. Patton
Trendlines Over Headlines
In this week's episode of Trendlines Over Headlines, Ian McMillan joins us to share his thoughts on the markets. Ian is a Technical Analyst and Portfolio Manager at Adaptiv. He weighs in on the S&P 500, Healthcare, Solar Stocks, Crypto, and more!
Top Links
Five Friday Charts - Research by Potomac
Dan Russo highlights five noteworthy charts to keep an eye on in the near term.
What Happens if FAANGs Break Out? - StockCharts.com
David Keller points out that FAANG stocks are coiling up for a large move.
Buying a Bounce in Natural Gas - All Star Charts
Ian Culley takes a look at a potential rebound in Natural Gas after a sharp pullback recently.
Fill The Gap Episode Nineteen, with Katie Stockton, CMT - CMT Association
In this podcast, Tyler Wood and David Lundgren sit down with respected technical analyst, Katie Stockton.
Top Tweets
You’re all caught up now. Thanks for reading!