Daily Chart Report ? Friday, July 22nd, 2022
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Today’s Summary
Friday, July 22nd, 2022
Indices: Dow -0.43% | S&P 500 -0.93% | Russell 2000 -1.62% | Nasdaq 100 -1.77%
Sectors: 3 of the 11 sectors closed higher. Utilities led, gaining +1.37%. Communications lagged, dropping -3.47%.
Commodities: Crude Oil futures fell -1.31% to $95.09 per barrel. Gold futures rose +0.69% to $1,725 per ounce.
Currencies: The US Dollar Index inched lower by -0.06%.
Crypto: Bitcoin slipped -2.01% to $22,698. Ethereum fell -2.69% to $1,534.
Interest Rates: The US 10-year Treasury yield dropped to 2.752%.
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 Jay Kaeppel (@jaykaeppel). It’s a chart of Copper over the past five years, with its seasonal pattern below. Copper has lost a third of its value over the past year, and it’s now testing crucial support around 3.30. One would expect at least a bounce at this level, but Jay points out that Copper seasonality tends to peak around this time of year. As we know, Copper is perceived as a leading indicator for both the stock market and the economy. Will Copper bounce at key support? Or, will it follow its seasonal pattern lower from here?
Quote of the Day
“The bad news is time flies.
The good news is you’re the pilot.”
– Michael Altshuler
Trendlines Over Headlines
&t=323sIn this week’s episode of Trendlines Over Headlines, John Roque of 22V Research joins us to share his outlook on the markets.
Top Links
August is Worst DJIA and S&P 500 Since 1988 – Almanac Trader
Seasonality expert, Jeff Hirsch breaks down how the major indices have historically performed in August.
Pay Attention to These Recent Lows – PFT Trading
Greg Rieben examines the recent bounce in Financials, Transports, and Software stocks.
Will Commodities Find a Floor? – All Star Charts
Ian Culley takes a look at what could be next for Commodities.
Stock Market Analysis July 22, 2022 – AlphaTrends.net
Brian Shannon recaps this week’s price action and lays out a few key levels to watch in the next week.
Why the Market May Be Over Your Recession Worries – eToro
Callie Cox points out that the S&P 500 tends to bottom 3-months ahead of the economy, on average.
Top Tweets
You’re all caught up now. Thanks for reading!