Daily Chart Report ? Thursday, July 21st, 2022
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Today’s Summary
Thursday, July 21st, 2022
Indices: Nasdaq 100 +1.44% | S&P 500 +0.99% | Dow +0.51% | Russell 2000 +0.48%
Sectors: 9 of the 11 sectors closed higher. Consumer Discretionary led, gaining +2.29%. Energy lagged, falling -1.75%.
Commodities: Crude Oil futures dropped -3.53% to $96.35 per barrel. Gold futures rose +0.22% to $1,717 per ounce.
Currencies: The US Dollar Index fell -0.41%.
Crypto: Bitcoin slipped -0.61% to $23,066. Ethereum rose +3.34% to $1,573.
Interest Rates: The US 10-year Treasury yield dropped to 2.878%.
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 Mark Minervini (@markminervini). Its a chart of the Nasdaq Composite, throughout the bursting of the dot com bubble. The Nasdaq has bounced about 13% from its lows in recent weeks. However, it’s still in a bear market, down about 25% from its highs. Mark reminds us that bear market rallies can be seductive, but dangerous. As you can see, the Nasdaq had several double-digit rallies in the process of losing nearly 80% of its value overall.
Quote of the Day
“What draws people to be friends is that they see the same truth. They share it.”
– C.S. Lewis
Top Links
Improvements in Breadth Picture – Research by Potomac
Dan Russo breaks down the recent improvements in market breadth.
Third Longest Streak of Negative Bull-Bear Spread on Record – Bespoke
Bespoke summarizes the results of the latest AAII Sentiment Survey.
July Conference Call: 5 Key Takeaways
The team at All Star Charts highlights 5 important themes to watch in the coming weeks.
5 Interesting Industries in Industrials – StockCharts.com
Julius de Kempenaer does a deep dive into the Industrial sector.
Top Tweets
You’re all caught up now. Thanks for reading!