Daily Chart Report ? Monday, July 25th, 2022
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Today’s Summary
Monday, July 25th, 2022
Indices: Russell 2000 +0.60% | Dow +0.28% | S&P 500 +0.13% | Nasdaq 100 -0.55%
Sectors: 8 of the 11 sectors closed higher. Energy led by a wide margin, gaining +3.67%. Consumer Discretionary lagged, falling -0.86%.
Commodities: Crude Oil futures rose +2.11% to $96.70 per barrel. Gold futures inched lower by just -0.08% to $1,719 per ounce.
Currencies: The US Dollar Index inched lower by -0.06%.
Crypto: Bitcoin fell -3.32% to $21,862. Ethereum dropped -6.48% to $1,498.
Interest Rates: The US 10-year Treasury yield rose to 2.800%.
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 Yuriy Matso (@yuriymatso). It’s a 4-hour candlestick chart of S&P 500 futures over the past three months. The yellow line represents the June 27th/28th highs around 3950. Yuriy points out that if the S&P 500 breaks this level, it will constitute a failed breakout. As we know, failed breakouts are often followed by sharp moves in the opposite direction, which in this case is lower. Between earnings and the Fed, everyone is expecting a big week ahead. The bulls will be trapped if the S&P 500 fails to hold 3950 in the coming days.
Quote of the Day
“At the bottom, stocks will be cheap and no one will care.”
– Bob Farrell
Top Links
Put These Charts on Your Wall: 2022 Edition – Compound
Charlie Bilello highlights some of the craziest charts of 2022.
There Will Be Rallies – PFT Trading
Greg Rieben looks at bear market rallies.
Staring Contest – The Weekly Trend
In this podcast, Ian McMillan, Dan Gorghuber, and Kevin Firari discuss some of the most important technical developments across the markets.
Risk Appetite Making a Comeback – Means to a Trend
Austin Harrison takes a look at some improving risk ratios.
Trendlines Over Headlines with Special Guest, John Roque – The Chart Report
In case you missed it, catch up on the latest episode of Trend Over Headlines where our guest, John Roque outlines the bear case for stocks.
Top Tweets
You’re all caught up now. Thanks for reading!