Daily Chart Report ? Monday, July 11th, 2022
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Today’s Summary
Monday, July 11th, 2022
Indices: Dow -0.52% | S&P 500 -1.15% | Russell 2000 -2.11% | Nasdaq 100 -2.19%
Sectors: Utilities was the only sector that closed higher, gaining +0.63%. Communications lagged, dropping -3.03%.
Commodities: Crude Oil futures fell -0.67% to $104.09 per barrel. Gold futures dropped -0.61% to $1,732 per ounce.
Currencies: The US Dollar Index rose +1.26% to a fresh 20-year high.
Crypto: Bitcoin fell -3.31% to $20,203. Ethereum dropped -4.54% to $1,115.
Interest Rates: The US 10-year Treasury yield fell to 2.998%.
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 Fernando Vidal (@fernavid). The chart compares the current drawdown in the S&P 500 with previous bear markets over the past century. Fernando points out that if the bottom is already in, this would have been one of the more mild bear markets in terms of both time and depth. The two most recent bear markets listed here (2018 & 2020) were some of the shortest and shallowest on record. Many investors are hoping this one recovers in a similar V-shaped fashion to 2018 and 2020. However, it’s important to be aware of recency bias. This chart serves as a reminder that bear markets can last longer and fall further than anything investors have experienced in the past decade.
Quote of the Day
“I believe in the discipline of mastering the best that other people have ever figured out. I don’t believe in just sitting there and trying to dream it up all yourself. Nobody’s that smart.”
– Charlie Munger
Top Links
Weekly S&P500 ChartStorm – 10 July 2022 – TopDown Charts
Callum Thomas highlights 10 noteworthy charts from the past week.
Favorable Risk-Reward – Murphy Charts
Shane Murphy examines how stocks and bonds could perform in the 2nd half of the year.
Where Can Investors Hide? – Research by Potomac
Dan Russo reviews some of the most noteworthy macro trends.
Can the Summer Bounce Continue? – Momentum Monday
Howard Lindzon and Ivanhoff discuss the strongest and weakest areas of the market.
Consumers Run From Stocks – Bespoke
Bespoke takes a look at a report from the NY Fed that says consumers haven’t been this bearish on stocks since the survey began in 2013.
Top Tweets
You’re all caught up now. Thanks for reading!