Daily Chart Report ? Monday, August 1st, 2022
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Today’s Summary
Monday, August 1st, 2022
Indices: Nasdaq 100 -0.06% | Russell 2000 -0.10% | Dow -0.14% | S&P 500 -0.28%
Sectors: 4 of the 11 sectors closed higher. Consumer Staples led, gaining +1.25%. Energy lagged, falling -2.07%.
Commodities: Crude Oil futures dropped -4.80% to $93.89 per barrel. Gold futures rose +0.33% to $1,788 per ounce.
Currencies: The US Dollar Index fell -0.40%.
Crypto: Bitcoin fell -1.49% to $22,974. Ethereum dropped -4.04% to $1,612.
Interest Rates: The US 10-year Treasury yield dropped to a 3-month low of 2.577%
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 Ryan Detrick (@RyanDetrick). The S&P 500 gained 9.11% in July, marking the best month since November 2020, and the best July since 1939. To be fair, the index fell 8.39% in the prior month, so we’re essentially flat since Memorial Day. Ryan points out that, on average, August & September have historically been more challenging than July. Will the S&P 500 sustain its recent momentum and buck its seasonal pattern? Or, will history rhyme?
Quote of the Day
“A lot of people would rather understand the market than make money.”
– Ed Seykota
Top Links
Hot Julys Often Bring Late-Summer/Autumn Buys – Almanac Trader
Jeff Hirsch points out that strong Julys for the Dow have historically been followed by weakness in late Summer/Fall.
Strongest July in Post WWII Era – Bepoke
Bespoke takes a look at how the S&P 500 has historically performed after some of its strongest Julys.
The Trends They Are A-Changin’ – Means to a Trend
Austin Harrison examines the recent improvement in breadth.
Historic Levels in Stock Market History – All Star Charts
JC Parets points out that Financials and Home Construction stocks held important levels last month.
Marajo Island – The Weekly Trend
In this podcast, David Zarling, and Ian McMillan highlight some of the most important technical developments going on across the markets.
Top Tweets
You’re all caught up now. Thanks for reading!